Net zero electricity: the UK 2035 target

Dieter Helm

Oxford Review of Economic Policy, 2023, vol. 39, issue 4, 779-795

Abstract: The UK is, like its peers in the EU, just under 80% dependent on fossil fuels. This figure has come down just over 10% since the 1970s, a period when the UK had major energy-intensive industries, most of which are now gone. The government is committed to achieving net zero for the electricity sector by 2035 on the pathway to net zero for the whole economy by 2050.. The Labour opposition has set 2030 as its electricity target. Setting out the scale of this challenge, this paper demonstrates how implausible the 2035 target is. On present policies there is little prospect that the 2035 target will be met (and virtually none for the Labour 2030 target). This paper reviews the multiple current policies and the capacity objectives and explores what would have to happen to meet the target. It sets out some of the consequences of failure to deliver, and the expectation of that failure.

Keywords: carbon emissions; climate change; energy markets; investment; net zero; regulation; UK/international government energy policy (search for similar items in EconPapers)
Date: 2023
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