UK needs £234bn to hit energy targets

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Britain will need to invest £234 billion in new energy infrastructure if it is to meet its renewable energy targets, it has been claimed.

According to a new report commissioned by Centrica entitled Securing the UK's energy future, the investment projection would mean the UK would have to double its energy asset base.

The energy costs take into account new projects announced in the past year, including a new nuclear programme and improved gas storage and transport infrastructure.

Centrica's figure of £234 billion is a marked increase upon previous projections laid out in last July's Costing the Earth report – which put infrastructure costs in the industry at £165 billion.

In related news, planners in Norfolk have opposed Centrica's proposed 500MW Docking Shoal offshore wind farm.

Centrica, which is the parent company of British Gas, submitted its plans for the wind farm to the Department of Energy and Climate Change in December last year.

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