World Energy Council Puts UK in Watchlist Because of Low Sustainability

Experts have put the UK on a watch list over concerns about the security and cost of its energy supplies, despite scoring highly in global rankings.

The UK is only one of three countries to achieve an AAA rating in a report on 129 countries from the World Energy Council and management consultants Oliver Wyman for security, affordability and sustainability of energy supplies.

But it is sliding in two out of the three areas the World Energy Council assesses in its latest World Energy Trilemma report, which looks at how countries balance having secure, equitable and clean energy resources.

The report finds that energy systems are under increasing strain and governments are limiting their spending, putting in jeopardy the £30tn the World Energy Council said the energy sector needs over the next 20 years.

There is enough private-sector money available to meet the demand if the right policies are in place, the report suggests.

But governments need to give investors certainty and help to pour trillions of pounds into the radically changed energy system required to ensure everyone has access to affordable energy and to tackle climate change.

The UK comes fourth in the world ranking, behind Switzerland, Sweden and Norway. Zimbabwe comes bottom.

The UK is in the top 10 for its energy security but not for sustainability or affordability of supplies. And it has been placed on “negative watch” along with Japan, Germany and Italy.

via The Guardian

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza