Wind and water?

The Economy committee’s Inquiry into Scotland’s Economic Future Post-2014 is busy this week with two sessions on energy.  First, a special session in Aberdeen looking at the future of oil and gas takes place on Monday afternoon.  Then on Wednesday the usual session in the parliament where future energy sources are the topic with a particular emphasis on wind and wave power.

 

The written submissions for the first meeting concentrate on the ownership and tax issues of independence for Scottish waters as well as the operational impacts for the industry.  Prof. Warne of CMS Cameron McKenna LLP, is giving oral evidence and states that though the issues are capable of resolution, they will bring uncertainty which could impact on investment while negations take place and new administration is up and running.

Prof. Alex Kemp of the University of Aberdeen will present a paper which outlines the likely income and costs from oil production until 2050. Though his assessment of Scottish waters shows that Scotland would get 90% of oil revenues, the long-term predications show a dramatic fall in oil and gas production. 

So just as well the committee will address new energy sources on Wednesday with four panel members:

Dr. Toke of the University of Aberdeen is optimistic for the future of energy, asserting that the 100% renewable energy target is attainable in Scotland without significant impact on energy prices. 

Dr Nicola McEwen, University of Edinburgh is though concerned that the proposed partnership on green energy across the UK could stifle development.

Martin McAdam, of Aquamarine Power, who have developed the Oyster state that:

“A number of independent studies have underlined the significant long-term growth potential offered to Scotland by a thriving ocean energy sector. Aquamarine Power has itself spent more than £5 million directly in the Orkney economy and works with more than 40 local firms.”

Eric Machiels, Chief Executive, Infinis, who have wind farms and landfill gas sites in Scotland also believes there can be significant growth in such energy but is concerned at any perceived threat of a potential interruption to financial support.

It seems the future is bright but much depends on not only the decisions of the Scottish people but of both UK and Scottish governments.