LCP Energy reacts to publication of latest Future Energy Scenarios from National Grid

Media centre

Today, National Grid has published its Future Energy Scenarios (FES) with three of the four scenarios now consistent with achieving the UK’s Net Zero targets. Achieving Net Zero will require significant amounts of investment in new technologies, network infrastructure and radical changes to how we operate the electricity system. LCP can now announce that its central scenario for its long-term power market projections is in line with achieving a New Zero power system.  

Tom Porter, Strategy Director, LCP said “Achieving Net Zero is one of the most significant challenges facing the power sector and ensuring forecasts are in line with long term Government targets is essential to providing investors and developers with the confidence to move forward with necessary projects. With more scenarios now compliant with meeting Net Zero, there will be more focus on how each scenario differs in its approach to reaching this target.".

Heavier reliance on certain technologies has a knock-on impact on other parts of the energy systems. High hydrogen scenarios, for example, would mean less need for electrification of the system which reduces the need for new electricity infrastructure but more investment in the gas network. Modelling these interactions holistically and assessing different pathways is more important than ever in understanding the complexity of the whole power system.” 

GB Power Investment Index

GB Power Investment Index

Investing in the GB Power Market

LCP's free long-term forecasting index designed for investors, asset owners, power station developers, power generation operators to monitor, compare, track and analyse the Energy Market across GB and Ireland.

Get started here