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Nick Molho, head of energy policy at WWF-UK said: “This report is a great reminder of the massive potential of marine renewables in the UK. We know from a recent Carbon Trust report that the wave and tidal sectors alone could create up to 68,000 jobs in the UK. But these benefits will only materialise if we maintain an attractive climate for investors with stable and proportionate financial support for the sector.

“The Offshore Valuation Report showed recently that the UK seas had the potential of generating an amount of electricity six times over our current consumption levels and could make the UK a net exporter of renewable electricity as well as an industrial leader in marine renewables. 1 Investment certainty holds the key to reducing the costs of marine renewable and creating jobs; the Government would be mad to miss this boat. 2

WWF reiterated that the report’s findings on the potential of the wave and tidal sectors were a reminder that renewable energy has a huge role to play in decarbonising the UK’s power sector and that this could be done with significant benefits for the UK economy.

Nick Molho said: “The Committee’s report is a great reminder of the potential of renewable energy in the UK. WWF’s Positive Energy report showed that renewables alone could securely and affordably decarbonise the UK’s power sector and provide well over 60% of the UK’s electricity by 2030.” 3

Notes to editors: 

1. The Government's Offshore Valuation Report ( www.offshorevaluation.org/) shows that the levelised costs of offshore wind could decrease to around £70-£80/MWh by 2030 (compared to £140-£150/MWh today), whilst Siemens recently stated that offshore wind could be fully cost competitive globally between 2020 and 2025. The Offshore Valuation Report also found that using just one third of the UK's wind, wave and tidal resource could: unlock the electricity equivalent of 1 billion barrels of oil a year (matching North Sea oil and gas production); give CO2 reductions of 1.1 billion tonnes by 2050; and create 145,000 new UK jobs.

2. A Carbon Trust report on marine renewables found that the UK could capture 22% of the global accessible market in wave and tidal stream technologies which could create 68,000 jobs in the UK. www.carbontrust.co.uk/news/news/press-centre/2011/Documents/110503-marine-green-growth.pdf

3. WWF’s UK energy report, Positive Energy: how renewable electricity can transform the UK by 2030, is available here: www.wwf.org.uk/positiveenergy

For further information, please contact:

George Smeeton
Tel: 01483 412 388
Mob: 07917 052 948
email: GSmeeton@wwf.org.uk
T: @GSmeeton