The Energy Sector
The East of England has, over the last five decades, been the centre of one of the world’s most productive energy industries. It has a well-established “all energy” base that embraces oil, gas, nuclear power and renewables amongst other technologies. As such, the region already plays host to a diverse and vibrant mix of businesses working in the sector. Given that a diverse energy sector already exists in the East of England, the area is ideally situated to deliver on the government’s energy priorities to ensure that energy remains secure and affordable as the UK transitions to a low-carbon economy.
The vital, strategic role that the East of England plays in keeping the UK’s lights on is something that EEEGR is working hard to promote through working with government, facilitating business contacts and attracting inward investment.
The sector also contributes significantly to the local economy. Over £13bn was spent in 2013 in the Southern North Sea alone––a figure that is expected to increase over the coming years. Meanwhile the offshore/onshore wind and oil and gas developments are estimated to be worth £30bn over the next 10 years. It is estimated that 7,700 people are employed in the energy sector in the region, generating gross value of £994mn. The sector is also one of the area’s most productive, with gross value added per job of £129,000. This robust level of economic activity will continue to present significant opportunities for investment in technologies, infrastructure, the supply chain and people in the region.
At the same time, EEEGR’s Skills for Energy programme aims to deliver the skilled people required to ensure the region’s workforce continues to meet the industry’s needs into the future.