economy

The UK’s low carbon and renewable energy (LCRE) economy swelled by 5% to reach a total worth of £42.6 billion in 2016. That’s according to the Office for National Statistics’ (ONS) Environmental Accounts for the year, which says the sector continued to account for around 1% of the UK’s non-financial turnover. During 2016, the number […]

The energy industry needs to take the lead in developing new policies and regulatory frameworks because the government is too busy. That’s according to Mark Gregory, EY’s Chief Economist, who spoke to ELN at our Energy Live Expo last week. He said as a consequence of the Brexit vote, higher inflation and low business confidence […]

The Drax Power Station helps generate £1.7 billion for the UK economy and supports more than 18,500 jobs each year. In a study of the biomass and coal-fired plant’s impacts, researchers at Oxford Economics found this contribution increased by 34% year-on-year following the firm’s acquisition of corporate power supplier Opus Energy. The facility, which provides […]

Nearly 2% of the UK Government’s entire spending in 2015 was on environmental protection. That’s according to new data released by the Office for National Statistics (ONS), which says this figure totalled an estimated £14.7 billion. The UK Environmental Accounts report says the energy efficiency of the UK economy improved in 2015, largely due to efficiency improvements […]

Newly-appointed head of the US environmental department believes growing the economy and protecting the environment can go hand in hand. In his first address to the Environmental Protection Agency (EPA) staff, climate sceptic Scott Pruitt said he seeks to “listen, learn and lead” to address the issues faced as a nation. The EPA was created […]

ELN recently attended EY’s Building Future Britain Debate, which considered the infrastructure issues and opportunities currently faced by the UK, particularly in the Midlands. In a wide-ranging debate, a number of industry leaders explored how investing in roads, railways and other projects in the area around Birmingham could hold the key to boosting growth and rebalancing the UK economy. We spoke to the […]

The EU has provided €200 million (£169.04m) of funding to support small sustainable projects in Kazakhstan. The European Investment Bank (EIB) has signed two contracts to finance small and medium-sized businesses (SMEs) working to mitigate climate change and protect the environment. By helping these small companies, the EIB will support the country in achieving its key policy objective of […]

Around £84 billion in turnover and 447,500 jobs were generated by the low carbon and renewable energy (LCRE) economy in 2014. A significant proportion of this comes from indirect activity, which is the knock-on effect of renewable investments and projects on the wider economy, according to the Office for National Statistics. Its latest report states indirect activity […]

The UK’s first green energy ISA has officially been launched. Abundance Investment’s Innovative Finance ISA (IFISA) will allow ordinary people to invest their money directly in renewable energy projects across the country. This first project offered as part of the ISA is a 5MW solar farm in Swindon, owned by Swindon Borough Council. It will cost £5.4 million, with £3 million coming from the […]

A majority (95%) of big business leaders consider smart technology to be important for the UK’s economic growth. More than 500 British senior decision-makers have overwhelmingly said they support the digital upgrade of Britain’s energy system, according to a survey from Smart Energy GB. Around 83% believe Britain’s energy system needs a digital upgrade, with […]