Britain Downgraded

This week, the World Energy Council announced their 2015 'Energy Trilemma Index'. The report sees the UK downgraded from the highest AAA energy rating to AAB amid concerns over the country's future energy supply.

Only two nations this year received the AAA rating which were Switzerland and Sweden. Two more countries moved onto the 'negative watch list'; South Africa and the USA. They join the four nations on the list already from last year, one of which is the UK.

To create this index, 130 countries are ranked according to three key areas: Energy Security, Energy Equity and Environmental Sustainability. For Environmental Sustainability, the UK has fallen from 18th last year down to 21st this year, with Switzerland ranking highest in this category.

The Trilemma report will be sent to the UNFCCC ahead of the COP21 negotiationsSource: World Energy Council

In my previous posts, I have discussed the UK's cuts to renewable energy subsidies and new planning regulations around onshore wind farms. It appears that the lack of support for clean energy has had a significant impact on this rating. The cuts will make diversifying supply of energy more difficult and will reduce the attraction of investing in the UK's renewable energy sector.

This global recognition makes it even more apparent that greater support is required for investment in renewables in the UK in order to substantially grow this area.