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Wind power could provide half of UK’s energy supply

The CEO of DONG Energy, Henrik Poulsen, has stated that wind power could supply the majority of the UK’s energy supply in the future. In an article published in the Guardian, Poulsen noted the falling costs of renewable energy and new developments in technology, and says that offshore wind power could create more than half of the UK’s energy.

DONG Energy has also issued a statement regarding the future of its gas and oil division. The company confirms that it is ‘reviewing strategic options’ regarding its £1.5 billion-pound gas and oil arm.

The company released the statement following media speculation that the company was making plans to sell its gas and oil business. DONG Energy say that JP Morgan has been ‘engaged’ to carry out a ‘preliminary market assessment’ but the Danish-owned company makes it clear it has not yet decided if it will divest its gas and oil division.

Support for Renewable Energy

The comments come at a time when the use of renewable energy is growing from strength to strength. DONG Energy, who are a leader in renewable energy had a record breaking IPO this year, and In 2015, 11 per cent of the UK’s energy supply was produced through wind power, which is the highest figures yet according to Businessgreen.com

In addition, public support for wind energy continues to grow. Figures from the Department for
Business, Energy & Industrial Strategy indicate that record levels of people (71 per cent) are now in favour of wind power.

RenewableUK’s Chief Executive, Hugh McNeal, said:

“It’s great to see public support for onshore wind has reached its highest ever level, at an overwhelming 71%. Onshore wind is the cheapest form of new power generation available in Britain, so it makes sense to use it to keep people’s electricity bills as low as possible”.

The Government continues to show its support for renewable energy with the announcement of the new Contracts for Difference auction, which will allow companies to bid for £290 million in renewable electricity contracts.

Business and Energy Secretary Dick Clark also gave more details of government plans to phase out unabated coal-fired power stations over the next decade and replace them with greener forms of energy.

The government says the investment in green energy is necessary to secure energy supply and reduce carbon emissions. It has pledged £730 million towards renewable energy projects over the next decade.

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