Labour approves Jackdaw gas field and announces renewables investment fund

Labour approves Jackdaw gas field and announces renewables investment fund

Jackdaw gas field receives go-ahead

Jackdaw will start to supply gas to British homes and businesses from the end of this month, after the Energy Secretary, Miatta Fanhbulleh, agreed that gas can be produced at the North Sea field.  

At a time when people are really struggling, it’s right that the Labour government looks in a responsible way at maximising the existing energy reserves we have in Britain that could help.  

This announcement will ensure the UK can maximise our energy security, back British workers, ringfence future North Sea proceeds to speed up the clean energy transition, hit our ambitious climate targets and bring down bills.  

Energy security is vital – and we can only achieve this through greater energy independence  

Global instability and conflict in the Middle East has caused gas prices to surge around the world – and it is working people and businesses in this country that pay the price.  

To help stop this from happening in the future, we need to improve our energy resilience and supply of homegrown energy.  

Without greater control, we cannot protect ourselves and our communities.  

Every step we take towards energy independence makes Britain stronger – less exposure to international markets, greater resilience to global shocks and cheaper energy for households and businesses. 

We have a responsibility to move away from fossil fuels towards cleaner, greener energy protecting future generations and the communities we love.  

But even on the path to net zero, the UK will still require oil and gas as part of its energy mix for decades to come. And we would rather use our own homegrown energy than gas imported from miles away. 

The Labour government is delivering world-leading investment in clean power 

After a summer of heat waves and extreme weather, the importance of tackling climate change cannot be more clear. 

Labour is investing in the most significant energy transition in over a century.  

The Chancellor has announced a new North Sea Energy Wealth Fund with a £2 billion downpayment to reinvest oil and gas revenues into the clean transition, helping us to achieve net zero by 2050. 

By reinvesting Britain’s energy wealth in renewable and low carbon energy infrastructure, it will unlock investment, back the industries of the future and create skilled jobs across Scotland and the UK.