Energy crisis in UK and Pakistan

The UK needs to radically increase the use of electricity which is renewable [Andersen, 2004]. The UK sets out the path to meet the binding target to ensure about 15% of the energy comes from the renewable energy sources by 2020 and almost a seven-fold increase in the share of the renewable is scare in more than a decade.

This strategy will tackle the change of climate which reduces the UK’s emission of carbon dioxide by over 760 million tons between the present and 2030. It will promote a secure energy supply for reducing the fossil fuel of demand by around 20% and the gas imports is about 30–40% against what they have been in 2020. It will provide some outstanding opportunities for the UK with the need to create about half a billion jobs in the UK energy renewable sector results around 100 billion of the new investment in the product. The key element for setting an energy path for the UK is to achieve a high carbon for the various climate changes.

The Pakistan is currently facing its worst energy crisis ever. There was lack of vision and integrated planning on part of Policymakers who are mainly responsible for this crisis. The current annual power shortfall is 4000 MW, 2000 MW and the additional capacity required annually is to maintain the current GDP growth rate with an investment of US dollar of about 4-6 Billion per year [Dinica, 2002]. The energy supplies must increase to about 40% of the current levels by 2010 and to 80% by 2015

The Pakistan energy requirements are normally huge. It is the Sixth largest country in the world, with its growing population that is expected to exceed about 190m by 2015. The rising population incomes per capita of the energy use and the industrialization to translate a high energy demand growth [EUREC, 2002]. The serious economic and the development implications of the energy deficit in Pakistan faces an increase in energy import costs, with a medium term solutions to supply shortfalls. It is expected that this would lead to yearly increase in Energy Demand of Pakistan and about 8-12% of the current Total Installed Power Capacity in the country is around 19, 522 MW. Based upon the growth in energy demand, it is the purpose of the energy demand to reach up to 162,590 MW by 2030. The Government is taking every possible measure to overcome the current energy crisis and relentless efforts that are under way to bridge the gap between the supply of electricity and the demand. The renewable energies now render excellent prospects for the development in Pakistan for the power generation of energy [European Commission, 2003]. The promotion and the development of the renewable energy is not only a priority area for the Government but it also figured prominently on the policy plans of the Government.

 

References

  • Dannemand Andersen, P., 2004. Sources of experience – theoretical considerations and empirical observations from Danish wind energy technology. International Journal of Energy Technology and Policy, 2(1/2), p. 33-51.
  • Dinica, V., 2002. “Policies for the support of renewable energy in the United Kingdom” and “Renewable energy policy in Spain”. Handbook of renewable energies. Reiche, D., Peter Lang Publishing Group.
  • EUREC, 2002. The future for renewable energy 2: Prospects and directions. Brussels, Belgium, European Renewable Energy Centre Agency.
  • European Commission, 2003. World energy, technology and climate policy outlook WETO – 2030. Luxembourg: Office for Official Publications of the European Communities, European Commission, Directorate-General for Research Energy.

Priya Chetty

Partner at Project Guru
Priya is a master in business administration with majors in marketing and finance. She is fluent with data modelling, time series analysis, various regression models, forecasting and interpretation of the data. She has assisted data scientists, corporates, scholars in the field of finance, banking, economics and marketing.

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