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OEUK Outlines Vision for a Reformed Electricity Market to Secure the UK’s Energy Future
Aberdeen, UK – July 10, 2025 – Oil & Gas UK (OEUK) today unveiled a significant publication, “OEUK: Electricity market reform can be a stepping stone to the UK’s energy future,” proposing a pathway for the nation’s evolving energy landscape. The report, released this morning, emphasizes the critical role of electricity market reform in fostering a stable, secure, and affordable energy supply as the UK transitions towards its net-zero ambitions.
The comprehensive document, published by OEUK, the leading representative body for the UK offshore oil and gas industry, articulates a series of recommendations designed to align the electricity market with the UK’s long-term energy strategy. It highlights the interconnectedness of different energy sectors and underscores the need for a cohesive approach that leverages existing expertise and infrastructure to facilitate the transition.
At its core, the report suggests that the current electricity market mechanisms may require recalibration to effectively incentivise the necessary investments in both established and emerging energy technologies. OEUK’s analysis points to the need for market signals that can provide the long-term certainty required to drive investment in low-carbon generation, grid infrastructure, and energy storage solutions – all vital components of a future-proof energy system.
A key theme within the publication is the recognition of the vital role that the offshore oil and gas sector can play in this transition. Drawing on decades of experience in managing complex energy projects, offshore operations, and sophisticated engineering, OEUK argues that the industry is uniquely positioned to contribute to the development and deployment of new energy technologies, including offshore wind, carbon capture, utilisation and storage (CCUS), and hydrogen. The report suggests that electricity market reforms can be instrumental in creating the right economic environment for these capabilities to be fully harnessed.
Furthermore, “OEUK: Electricity market reform can be a stepping stone to the UK’s energy future” addresses the pressing need for affordability and security of supply for consumers. The report stresses that any reform must ensure that the UK’s energy remains accessible to households and businesses, while simultaneously guaranteeing reliability and resilience against geopolitical and market volatility. This delicate balance, OEUK contends, can be achieved through well-designed market frameworks that encourage a diverse portfolio of energy sources and promote efficient energy use.
The publication also touches upon the importance of innovation and the development of a skilled workforce. OEUK’s vision includes fostering an environment where technological advancements can thrive and where the existing highly skilled workforce, many of whom are employed in the offshore sector, can readily transition their expertise into the growing clean energy industries.
In releasing this report, OEUK aims to contribute constructively to the ongoing national conversation about energy policy and to offer practical, industry-informed solutions. The organisation hopes that its detailed proposals will serve as a valuable resource for policymakers, industry stakeholders, and the public as the UK continues its journey towards a secure, affordable, and sustainable energy future. The overarching message from OEUK is clear: by thoughtfully reforming the electricity market, the UK can indeed build a robust stepping stone towards achieving its ambitious energy goals.
OEUK: Electricity market reform can be a stepping stone to the UK’s energy future
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Oil & Gas UK (OGUK) published ‘OEUK: Electricity market reform can be a stepping stone to the UK’s energy future’ at 2025-07-10 11:33. Please write a detailed article about this news in a polite tone with relevant information. Please reply in English with the article only.