Will renewable power ever be competitive without government subsidy?

The Gateway Project
CGI of the Gateway Project

The head of an Edinburgh-based energy consultancy is to present evidence at the House of Lords tomorrow (15 Nov).

George Grant, Founder and Managing Director of STAG Energy, is one of a handful of witnesses – along with Renewables UK – who are due to speak about the energy sector’s latest technological developments.

The Committee is exploring the present mix of policy interventions and subsidies in the energy market – including whether renewable power will ever be competitive without government subsidies.

Grant has worked in the power generation and gas infrastructure sectors for over two decades. Prior to setting up Stag Energy in 2012, he was Regional Executive for InterGen’s activities in Europe,  Middle East and Africa, responsible for investments totalling nearly $6 billion.  

Stag Energy is presently working, for example, on the Gateway Storage Company plan to build an underground natural gas storage facility in the Irish Sea, 15 miles off the coast of Cumbria.

Storage caverns will be developed in a natural salt structure below the seabed and will enable gas to be delivered, stored and then returned to the UK’s national transmission system.

This evidence session is part of the Lords’ inquiry into ‘The Economics of UK Energy Policy’. Other questions the Committee is likely to ask include:

  • Is the UK Government investing sufficiently in research and development for new energy technologies?
  • How can private investment in new energy technologies be encouraged?
  • Does the UK have a particular problem developing commercially viable products from research and development?
  • Which new technologies will transform the energy sector?

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