Scotland's energy sector - unlocking investment: joint business plan

Focusses on the actions a number of stakeholders need to take in order to unlock investment in projects that support net zero, and will generate economic benefit across Scotland and the wider UK over the next few years.

Key Themes and Actions

Addressing each of the barriers identified in the Annex is important to unlock green investment, but four themes in particular stand out:

Key Themes

1. Planning

Streamline the planning process to reflect the criticality of the climate emergency.

2. Regulation

The current regulatory framework does not allow Scotland's network companies to make the investment necessary to connect net zero projects at the pace and scale required.

3. Financial viability

Projects that will deliver net zero and the associated economic benefits need to be financially viable for investors.

4. A just transition

The energy transition must ensure that we build a greener, fairer and more equal society and economy.

Key Actions

Ensure that via NPF4 the materiality of climate change is elevated within the planning decision making process.

Ensure that Local Authorities and other statutory bodies are sufficiently resourced in order to deliver net zero.

Scotland should take a coordinated approach to building evidence for network investment for net zero.

Engagement with Ofgem will be critical.

TNUOS remains a major barrier for investment in Scotland which needs to be address in the longer term

Appropriate, stable and sufficiently sized Contracts for Difference (CfD), capacity market, and balancing mechanisms are all central to delivering long term investment.

Market structures and support mechanisms are also required to unlock technologies such as pumped storage, hydrogen, CCS and large scale battery deployment.

The Scottish Government's Place Principle should be used throughout the project lifecycle to ensure involvement of local communities, and to support inclusive and sustainable economic growth.

Supporting the transition of the oil and gas workforce and supply chain is important and provides a pool of transferable skills and capabilities.

Respond to actions identified in the report of the Just Transition Commission "A national mission for a fairer, greener Scotland."



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