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Energy: Investment

Department for Energy and Climate Change written question – answered on 28th November 2014.

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Photo of Michael Meacher Michael Meacher Labour, Oldham West and Royton

To ask the Secretary of State for Energy and Climate Change, how much energy investment of each type was made by energy companies in each year since 1984.

Photo of Matthew Hancock Matthew Hancock Minister of State (Department for Business, Innovation and Skills), Minister of State for Portsmouth, The Minister of State, Department of Energy and Climate Change

The Department does not hold this information. However, we recently published an Energy Investment Report which showed significant levels of investment since 2010.

· January 2010 and 2013 mobilised over £45 billion in low carbon energy infrastructure,1 which will also support up to 250,000 jobs in the low-carbon energy generation sector by 2020.

· In 2013 DECC estimates that over £14bn was invested in electricity generation and networks.

· Nearly £8 billion invested across a range of renewable technologies in 2013 alone – a record year.2

· UK is the most attractive market in the world for investment in offshore wind and marine renewables.

[1] DECC estimates based on EMR Delivery Plan modelling

[2] Bloomberg New Energy Finance, nominal, converted to pounds sterling.

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