UK government to outlaw new North Sea drilling
Summary
The UK government has introduced the Energy Independence Bill, which would prevent the North Sea Transition Authority from issuing licences for new oil and gas exploration. The bill would allow additional production near existing licensed fields, would not affect the pending decision on Rosebank, and includes wider energy measures such as a £2bn fund for renewable and low-carbon projects.Key Facts
- The bill would remove the North Sea Transition Authority's power to grant new oil and gas licences.
- Transitional Energy Certificates would allow additional production near already licensed fields or within existing fields.
- The government says the certificates could support about 60 million barrels of oil and hundreds of jobs.
- The bill would not determine whether production can begin at Rosebank, which received approval in 2022 and later faced legal challenges.
- The government says the bill fulfils Labour's 2024 manifesto pledge not to issue licences for new oil and gas fields.
- The government announced an energy wealth fund with £2bn in initial funding from oil and gas tax revenue for renewable and low-carbon projects.
- The bill would also scrap gas standing charges and reform the process for connecting to the electricity grid.
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