Rebuilding the UK economy: fairer, cleaner, more resilient

How the energy transition sits at the heart of economic recovery.

#energy #netzero #sustainability

The UK energy sector has one of the cleanest and most innovative energy systems in the world, attracting investment and creating jobs as we accelerate through the energy transition towards net zero.

This provides a strong platform from which to stage our economic recovery from the impact of the COVID-19 pandemic.

This report, which we have developed in partnership with Energy UK, provides the UK government with a toolkit of policy interventions to help identify the actions that will have maximum impact in creating jobs and growth across the UK.

By adopting these policies, government can use the devastating experience of COVID-19 to catalyse a change for the better: to build a fairer, cleaner and more resilient UK economy.

 

 

Energy UK

How big is the energy sector in the UK?

154,00 people are directly employed in the energy industry and a further 620,000 indirectly across the supply chain.

In 2019, the Energy Sector:

  • Ranked as a top 3 sector for employee productivity
  • Invested £14.4bn in the UK
  • Generated £95bn in economic activity, including supply chain
How big is the energy sector in the UK?

World leaders in energy

The UK energy industry is at the forefront of the transition to decarbonise power generation and it attracts significant private investment in innovative, start-up businesses, both relative to other sectors in the UK and internationally.

Investment in UK start-ups by sector (£m)

Investment in UK start-ups by sector (£m)

Power emmisions per capita

Power emmisions per capita

Number of energy start-ups

Number of energy start-ups

source: Dealroom

Our five steps to build back better with the Energy sector

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Launch a national housing infrastructure upgrade programme

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Further accelerate the transition to low carbon transportation

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Unlock further private investment in a digital, flexible and affordable, low carbon energy system

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Accelerate the development of regional low carbon industrial clusters and local supply chains

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Support workers, businesses and local authorities with their recovery from the crisis

How do policy makers translate these steps into part of an economic recovery?

How do policy makers translate these steps to drive economic recovery?

The report provides practical, actionable insight to shape policy and deliver immediate and long term benefits to the UK economy. For example, one of the recommendations is focussed around improving air quality through a shift to low carbon transport.

If the government were to develop further incentives to encourage the take-up and UK production of electric vehicles, then 220,000 jobs could be supported by the EV industry. And in the longer term, this will lead to reduced healthcare issues and deaths caused by long term exposure to air pollution in our towns and cities.

Contact us

Steve Jennings

Steve Jennings

Leader of Industry - Energy, Utilities & Resources, PwC United Kingdom

Tel: +44 (0)7704 564513

Janine Freeman

Janine Freeman

Energy Transition Deals Leader, PwC United Kingdom

Tel: +44 (0)7967 033758

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