EVOL: Labour’s plans, hydrogen pledges and Parkmead’s snub

Labour set out its energy plans this week, although the clean energy lustre was slightly tarnished by a broken down hydrogen bus. The party has big plans for the shift into clean energy, but is wrestling with quite how fast it wants to move away from oil and gas.

Hydrogen may play a big role in the UK’s energy transition, but progress has been slow. A Labour politician has pledged to accelerate work, which might be enough to stop some projects from stalling. Hydrogen is often touted as a silver bullet, but in reality it is an imperfect solution – but the UK must make choices to stop the perfect being the enemy of the good.

It was not just investor feelings that took a knock this week with Parkmead’s decision to abandon the Perth project. The company is tipped as a contender in the ongoing licence round, though, and has plans for exploration drilling in 2024. 

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