Oil report

UK's Ofgem aims 10 mln EVs by 2030 to cut carbon emissions

Feb 3 (Reuters) - The new boss of Britain’s energy regulator Ofgem laid out a plan on Monday to cut carbon emissions that involves having nearly 10 million electric vehicles (EVs) on the roads in another 10 years and setting up a climate change-focused fund.

Ofgem, which saw Jonathan Brearley take helm this month, also plans to support the growth of renewables and the development of an offshore grid to quadruple wind generation by 2030.

“As low-carbon renewable energy grows and more transport goes electric, the energy system needs to be more flexible to respond to peaks and troughs in both supply and demand,” Ofgem Chief Executive Officer Brearley said in a statement.

Britain has previously said it was already leading the world on addressing climate change-related damage as the first major economy to legislate to end its contribution to global warming by 2050.

To meet net zero, Britain will have to change the way homes and businesses are heated, including the use of hydrogen boilers or electricity to power heat pumps, Ofgem said.

Reporting by Muvija M in Bengaluru, Editing by Sherry Jacob-Phillips