UK to focus on smart grids and nuclear power

Big investments into UK smart grids, offshore wind farms under the Renewable Obligation Certificates (ROC) scheme and nuclear power are on the agenda for both the Labour and Conservative parties in the run-up to the UK elections, as the country looks to increase energy security, says investment bank Nomura.

The Conservative party is likely to concentrate on moving away from the UK's reliance on imported fossil fuels and, like the UK's current party in power Labour, will focus on the development of new nuclear and smart grids, says Nomura in its latest United Kingdom General Election 2010 report.

"There could be a focus on gas storage," says John Musk, utilities analyst at Nomura. "The Conservatives might mandate minimum storage levels for all gas generators and limit exports at certain times of the