Powering the UK, a report from Ernst & Young carried out for Energy UK, sets out the energy sector’s contribution to the UK economy. Unlike many other industries, energy is not concentrated in the South East but spread across all regions, supporting parts of the country hardest hit by recession.
The report shows how the energy sector creates jobs, both directly and through the supply chain. How energy is engaged in huge investment. And how energy takes its responsibilities to business, communities and individuals seriously. This report makes is clear that energy is a large and consistent contributor to the UK.
Highlights of 2012 include how the energy sector:
Contributed £102bn of economic value to the economy through direct activities and the supply chain, making energy one of the biggest industrial contributors
Established a major programme to improve the skills of its staff and doubled the number of new apprentices to over 1400 a year
Invested £11.6bn, or around 10% of the total UK investment in 2012 – the equivalent to building 20 Olympic stadiums, to secure power and gas supplies. This is more than private sector investment in transport or public investment in health or education
Boosted investment in renewables with most spent in Scotland
Paid £3bn in tax with more on business rates, the climate change levy, the renewable obligation and the carbon price floor
Today, the industry is urgently seeking an honest and open debate on energy. The debate will improve decision making, establish the long-term certainty needed by investors and help public understanding of this complex and complicated issue. Powering the UK is a contribution to that debate.