Energy price review to allow Brits to access grid at cheaper rate
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With the energy price cap (maximum annual tariff) tipped to reach an eye-watering £3,200 in October, industry regulator Ofgem has warned that this could push more than 12 million Britons into fuel poverty. And with price hikes largely a result of volatile gas markets worldwide, alternative clean energy sources like hydrogen have been pinpointed as a way to drive bills down while helping the Government reach its net zero targets.
In fact, Westminster’s hydrogen strategy details the plan to “rapidly and significantly scale up production” to help “lay the foundations for a low carbon hydrogen economy by 2030”.
Within the strategy, it was made clear that “Scotland has a key role to play in the development of a UK hydrogen economy”.
And the announcement of the £10million Hydrogen Innovation Scheme in Scotland will likely help the nation to play that key role that Westminster intends it to.
The scheme will provide capital support over the next four years in efforts to unlock more private investment in the green technology.
It is also set to help new companies to enter the sector.
The scheme marks part of the Government’s commitment to invest £100million in hydrogen in Scotland.
The SNP Net Zero and Energy Secretary Michael Matheson said: “Scotland has the resources, the people and the ambition to become a world leader in hydrogen production for both domestic use and for export to Europe.
“The Scottish Government is committed to working with the energy sector to establish hydrogen as an important part of a cleaner, greener energy system, supporting a just transition for the industry both home and abroad.”
Head of Low Carbon Transition at Scottish Enterprise, Andy McDonald, said: “Scottish Enterprise is collaborating with the Scottish Government to develop opportunities in the hydrogen sector in Scotland that will maximise the economic benefits and support energy transition.
“We share the ambition to develop Scotland as a leading hydrogen nation.
“It is important in an emerging sector like hydrogen that we support Scottish companies and projects now to develop new techniques and technologies which can help us to realise our future ambitions in this sector and to retain as much value and intellectual property in Scotland as possible.”
“We are open to the world and actively seeking opportunities to collaborate with international partners. The Hydrogen Innovation Scheme provides important, near-term investment to help the sector develop, diversify and realise it’s potential to support our transition to a net zero economy.”
One project the money will go towards includes the development of a Hydrogen Hub in Aberdeen.
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The city has a vision to become a world-leading hydrogen city.
Jenny Laing, the Aberdeen City Council Leader, said: “The Council has a vision for the Aberdeen City Region to become a world-class energy hub blazing a trail with a replicable model for a low and zero carbon economy at the forefront of hydrogen technology in Europe.
“We’re proud of the strong global and local partnerships that have developed and see the procurement of a Strategic Partner to support the development of the Aberdeen Hydrogen Hub and the City’s Net Zero Vision as key to our continuing success.”
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