Economics and the energy sector

The Royal Society of Edinburgh (RSE), Scotland’s National Academy, welcomes the opportunity to respond to the UK Government’s Energy Security and Net Zero Committee’s inquiry. The RSE is well placed to respond to this consultation with our working group, which consists of RSE Fellows and Young Academy of Scotland Members with expertise in the energy market and the economy.

RSE policy advice paper, economics and the energy sector (336KB, PDF)

Executive summary

The RSE advises that the key underlying principles of the energy market reform should be ensuring it is cost-effective, secure, reliable, and flexible. It is also crucial that the reform aims to support the energy sector to reach its decarbonising ambitions. This should be done at a sensible pace, with cooperation across all devolved and local governments and sectors. It’s also important to ensure the public understands their role when implementing new regulations to achieve energy market reform and net zero. Successful public awareness campaigns can achieve this.

Achieving a successful energy market reform provides an opportunity to create various benefits for the economy and the environment. Such benefits include drawing green investment to the UK markets, delivering a flexible and resistant UK energy sector, creating global leadership and potential export opportunities in the future, and other economic benefits, such as job creation.

Download this advice paper

RSE policy advice paper, economics and the energy sector (336KB, PDF)