Throughout my career I’ve been involved to some extent or other in the development and commercialisation of technology. So, when faced with a selection of technology ideas to back I am acutely aware of the difficulties involved in sorting the wheat from the chaff. Believe me. It isn’t easy because the parameters you need to consider are many and varied and, of course, instinct and experience also count for a lot.
Scotland’s electricity system could be powered almost entirely by renewable energy by 2030, according to a report by an environmental charity. WWF Scotland’s report uses independent analysis by an engineering and energy consultancy to test the Scottish Government’s policy to decarbonise the country’s electricity supply over the next 15 years. It found that an electricity system based on “proven renewables and increased energy efficiency” is a credible way of meeting the target.
The Scottish Government’s oil revenue forecast for the first three years of independence is now out by £15.5 billion, according to the Scottish Secretary. Alistair Carmichael said the latest UK Government analysis showed that 100 days after the referendum, an independent Scotland would have been facing the shortfall following a drop in oil prices. He said “serious questions” now needed to be asked about how the SNP administration “got this so badly wrong”.
The reforms to the oil and gas tax regime announced by the Chancellor and Danny Alexander this week are, of course, welcome. Particularly in light of the Chancellor’s admission that it has been 21 years since the oil and gas industry last received a tax reduction. However, this announcement only goes a short way towards reversing the unexpected and damaging 12% increase in Supplementary Charge tax introduced by Danny Alexander at the 2011 Budget.
The Treasury’s plan to reform the oil and gas fiscal regime is an interesting and encouraging document, which recognises the importance of the industry, while at the same time acknowledging the need to be more competitive in attracting and promoting capital investment in the UKCS. It has the hallmarks of collaboration, with the Treasury accepting that they must adjust their thinking as to tax receipts from the UKCS, and it is the first time in recent memory, committed to black and white, that ‘we are all in this together’. The Treasury does not publish a document of this importance without it having being very carefully vetted.
There are three things wrong with the UK Parliament's approach to the oil industry. Firstly, there is no gratitude whatsoever. Over the last 40 years more than £330,000million has poured into the Westminster Exchequer, around £60,000 per head for every Scot. Scotland's resources have bankrolled successive Tory and Labour Chancellors. They present any crumb of a concession as if it were a gift.
A former Scottish political leader has been defeated in his fifth attempt to win approval for a controversial windfarm in Aberdeenshire. Councillors have upheld the decision to throw out Lord Nicol Stephen’s plans to erect two masts near Blackhills Farm at Cushnie. Campaigners said they hoped the verdict would convince the one-time deputy first minister to finally drop the proposals for the site.
Lord Smith of Kelvin, chair of the Smith Commission on Scottish Devolution, will appear before Holyrood’s newly-convened Devolution (Further Powers) Committee. His report recommended the UK government would remain in charge of licensing for all offshore oil and gas extraction under the proposals but Holyrood could get the power to determine if fracking goes ahead in Scotland.
Energy giant SSE’s electricity network supports almost 2,000 jobs across the north of Scotland and is expected to have contributed £287million to the economy by the end of this year, research has revealed. The Perth-based firm, which manages 77,000 miles of overhead lines and underground cables across the north of Scotland and through its network in the south of England, added that it has invested £126million this year in the Scottish network to increase its resilience. Through its subsidiary, Scottish Hydro Electric Power Distribution (SHEPD), SSE operates its electricity distribution network from John O’Groats through Perth and Dundee, as well as 89 Scottish islands, according to the report by Big Four accountancy firm, PwC.
Amid the growing need for skilled workers in the engineering industry, Shell has confirmed its investment in a programme aimed to inspire the next generation. Tomorrow's Engineers, run by Engineering UK, aims to tackle the skills crisis by encouraging and inspiring more students to study, and pursue, a career in science, technology, engineering or maths.