West Midlands Low Carbon Investment Prospectus – Energy sector continues to grow in 2014
We know that our work with Local Enterprise Partnerships on the UK’s first joint LEP low carbon investment prospectus is being used by investment teams, SWM members, and on trade missions to China.
The prospectus sets out the three local strengths we identified in the West Midlands of low carbon transport, construction, and energy. Therefore we are always on the look out for how we are doing within these areas.
A recent update by Ernest Young has identified that:
- The energy sector directly supports around 26,000 jobs in the West Midlands – a fifth of the total energy employment across the UK (20 per cent).
- In 2013, the West Midlands benefited from job creation in the energy sector with an increase of 2,000 jobs since 2012.
- By contrast, London saw the number of people directly employed in the energy sector decline by 1,000, while the number in Scotland fell by 2,000. Regions, apart from the West Midlands that saw an increase include the North East, North West, and Yorkshire and Humber with overall 4,000 new jobs, the South East (excluding London) 3,000 and the East of England 1,000.
- Customers in the West Midlands appear to be the most active switchers, whereas customers in North Scotland are the least unlikely to switch energy supplier.
Tony Ward, EY Midlands partner and Head of Power & Utilities for UK and Ireland commented: “While a lot of other major sectors are concentrated in London and the South East, the energy sector is truly national in the distribution of its companies and assets. Steady investment over recent years has been good news for jobs in the Midlands, where there is a requirement for strategic energy infrastructure assets, as well as a growing skills base to support growth in this sector.”
Simon Slater, Chief Executive of Sustainability West Midlands commented: ” This is good news for the West Midlands, with the actual number of related energy jobs and companies much larger as more local companies diversify to supply and innovate within this sector – such as new energy technology, supply and demand management, and smart grids.”
For more information:
See the powering the UK report