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Economy: A new energy for investment at scale - Shared screen with speaker view
Robert Phillips
38:37
question: Love the idea of an Energy Innovation Economy - but how do we bring so many fragmented (political and business) stakeholders/ agencies to make it happen?
Derek Wyatt
39:25
Borrow from India IIIT and IIIEs plus look what Dyson has just donee in Wiltshire
George Freeman
50:23
To move the conversation from vague aspiration to delivery, it would be v powerful to have an Energy Map of the East - showing where we are generating and where / how we are using / wasting energy …...and start to put some METRICS on it
Robert Phillips
52:06
The Energy Map might also help suggest where new centres of excellence might emerge, geographically and by specialisty
Cameron Gilmour
53:27
Yes that's a good point George, there are national dashboards that give the UK wide picture but ive not seen one that shows locally. Check out website "mygridgb.co.uk" which shows how we are providing our current power demand
Robert Phillips
54:37
Matthew - any early thoughts on the opportunities that hydrogen now brings?
Callum Thomas
55:55
There is an app called ElectricityMap that shows how electricity is generated (live) at a country level. This could be developed to also show other data and metrics
George Freeman
57:40
yes Digitalisation Decarbonisation Disconnection: these were the defining pillars of my UK Strategy as Minister of State for the Future of Transport...…
George Freeman
59:37
...we should mobilise for the freedoms, tools, incentives to create an Eastern Innovation Energy Economy......if we could keep 10% of the saving in reducing energy waste we would have £millions
Robert Phillips
01:00:35
Does deep digitalisation need a 21st century interpretation of municipal socialism? :-)
Cameron Gilmour
01:00:52
Just a point on the electricity generation map - right now top 3 contributors to UK energy demand are wind 8GW, nuclear 6GW, gas 12GW, and the UK is also still burning coal as well with 0.5GW being generated .. still a huge way to go to achieve net zero
Michael Gidney
01:01:03
Data ownership is really important - it’s local value creation
George Freeman
01:01:18
exactly
Jayne Knight
01:02:23
….we have extensive digital poverty in suffolk.....ie families without access to the internet and with out any tech - because of poverty...
Robert Phillips
01:05:21
The digital poverty trap is part of an economic underbelly that we are not really honest about…
George Freeman
01:13:11
Brilliant conversation Apols I have to go to chair a call at 1pm.... Happy to stay in touch + follow up...
Robert Phillips
01:14:15
Thanks, george - really appreciate your inout and provocations - more soon.
Chrysoula Zervoudakis
01:16:42
And we should ensure that any new infrastructure is effectively planned so as not to endanger this opportunity for our agriculture , considering population increase, Brexit and improving diet requirements.
Michael Gidney
01:22:40
Jayne’s right. And an acid test of whether ‘big projects’ can deliver at a local level here is on whether EDF and Scottish Power can sit together with local people to work out how to improve the impact of their interventions
Mark Goyder co-author Entrusted
01:22:55
I warm to Derek's Barcelona-inspired description of a digitally enabled community. The community owning the data and the connections and building on digital empowerment to radically improve self-reliance in health care, education.
Tom McGarry
01:31:28
'Sitting together with local people to work out how to improve the impact of interventions': The first stage of public consultation on Sizewell C was in 2012, second in 2016, third and fourth in 2019. Local community groups in Leiston and Wickham Market are working with us at the micro-level on the details of various aspects of the schemes that impact the community. The issues faced in trying to achieve similar levels of community engagement in other places participants might have a better awareness of? More often than not anti-nuclear parish councillors, especially Aldeburgh.
Robert Phillips
01:37:49
Mark G - any thoughts on stewardship (and priorities) for community fund?
Tom McGarry
01:40:40
The New Anglia Local Enterprise Partnership's All Energy Industry Council is 'the crucible' that is looking at the whole integrated energy system in East Anglia. We are discussing the various applications and possibilities from the residual heat from Sizewell B and Sizewell C - hydrogen, direct air capture, district heating systems etc.
Dominic Keen
01:40:42
Hydrogen looks like it will be a key bridging technology for the widespread electrification of transport. Suffolk needs to be able to attract hydrogen entrepreneurs.
Callum Thomas
01:43:27
Dave Ellis makes a very good point - all over the world we see disconnected and intermittent efforts around social impact and local economic development. It seems to work best is where these efforts are effectively joined up
Chrysoula Zervoudakis
01:43:43
Great point Robert - let's move away from CSR whitewashing and forcing the energy companies to contribute to a local Entrepreneurial Fund that is managed independently and maybe it will offset the CO2 emissions of all the contruction work etc .
Mark Goyder co-author Entrusted
01:44:02
Sure. Doesnt it need to start with the projects of the kind George and Derek were describing? Then create a funding proposition for such a project of the kind that could through an imaginative impact investment channel be invested in by retail investors. or perhaps in a public/private partnership? Alternatively work with some of the major family offices with interest and roots in the region and create a regional impact fund open ultimately to DC invvestors and retail investors
Tom McGarry
01:45:59
Chrysoula - the emissions from the construction of Sizewell C will be offset within the first 8 months of its operation.
Robert Phillips
01:47:04
Surely there is an opportunity to “capture”: future thinking and technologies as construction for SZC gets underway?
Chrysoula Zervoudakis
01:47:23
Thank you Chris. We should be thinking about the risks in the future and not short term misleading promises. When there is already better smaller technology and less risky.
Robert Phillips
01:47:44
… that was the thinking behind my earlier question of big organisations thinking with a more entrepreneurial mindset.
Mark Goyder co-author Entrusted
01:50:26
So if we do need the capital for the new postgraduate technology education and research centres as described by Derek my suggestion of a regional impact fund could be worth pursuing
Callum Thomas
02:00:42
Has anyone measured the benefits that Sizewell B has brought to the area? I think they are sizable.
Robert Phillips
02:03:05
Callum - I guess Tom will have that data
Jayne Knight
02:03:52
...have a look at the % of pupils on free school meals in the area...
Robert Phillips
02:05:03
Mike Gidney is right - this conversation is designed to br broader that one on the merits/ dismerits of any one of the energy providers, inc. EDF. New coalitions are needed.
Jayne Knight
02:06:00
Agreed - it's our approach to growth...
Cameron Gilmour
02:06:02
Its been great to join this roundtable. Its clear to me theres still a lot to do to communicate the future shape of the UK energy system to meet net zero and ensure we have security of supply. To do this we'll need a mix of firm power, renewables and new technologies. Current off shore wind coming on stream now is still around £120/mwhr. With a different funding model SZC will be competitive with future offshore wind farms.
Tom McGarry
02:06:03
Jayne - is Sizewell B responsible for pupils on free school meals?
Jayne Knight
02:08:22
......... its interesting to reflect on the causes of poverty ...
Mark Goyder co-author Entrusted
02:11:32
Thanks Robert, Roxana, Becky and colleagues for arranging this. Great facilitation
Callum Thomas
02:11:51
Thank you everyone, really interesting discussion
Michael Gidney
02:12:13
Agreed - well done and thanks everyone for a really valuable discussion
Chrysoula Zervoudakis
02:12:36
Thank you everyone.