At our latest event, the Scottish Energy Forum welcomed Nick Butler, Visiting Professor and Chair of the Policy Institute at King’s College London and Energy Commentator for the Financial Times; Dave Whitehouse, CEO of Offshore Energies UK; and Michael Liebreich, Managing Partner at EcoPragma Capital and CEO of Liebreich Associates. The discussion was expertly moderated by Malcolm Forbes-Cable of Wood Mackenzie, who kindly hosted the event.
The session explored the increasingly urgent link between energy security, economic resilience and national security. Setting the scene with an overview of the UK’s energy system, the discussion highlighted both the rapid growth of renewables and the continued reliance on oil and gas. A key point of concern was the UK’s growing dependence on imported energy, now accounting for around 40% of total supply, leaving the country increasingly exposed to global shocks and price volatility.
Panellists examined what energy security means in practice: not only ensuring reliable supply, but also maintaining affordability and resilience in the face of geopolitical disruption, market instability and infrastructure risks. With energy systems increasingly seen as strategic assets, and potential targets, the conversation reinforced the need to view energy through a national security lens.
A major theme throughout the evening was the scale of the UK’s exposure to near-term energy disruption. Concerns were raised that, in the event of continued escalation in the Middle East, the UK could soon face a situation where the final oil tanker cargoes that had already departed the Strait of Hormuz are consumed before replacement supply routes are secured. The implications of such a disruption would extend far beyond energy markets, with potentially severe impacts across road, rail, shipping and aviation, alongside wider consequences for public safety, economic stability and national resilience.
The discussion also highlighted the need for a more pragmatic and less polarised debate around the future energy system. Panellists stressed the importance of domestic production, a balanced energy mix, and a system-wide approach that goes beyond electricity to include heat, transport and industrial demand. The role of the North Sea and the UK’s existing supply chains was discussed in the context of both economic value and long-term resilience.
High electricity costs – among the highest in developed economies – were linked not only to global gas prices but also to market design and policy decisions. These costs are having a tangible impact on industrial competitiveness, with several key sectors experiencing significant long-term decline.
Throughout the conversation, there was a clear emphasis on economics and technological realism as the ultimate drivers of the transition. Technologies scale when they are commercially viable, and policy must create the conditions for investable solutions rather than relying solely on targets or subsidy-led approaches. The discussion included calls for greater independent scrutiny of UK energy policy, including proposals for a body similar to the Office for Budget Responsibility to provide transparency around the long-term economic implications of energy policy decision.
The evening closed with a call for a more informed and coordinated approach to policymaking – one that draws on industry expertise, reflects the realities of the energy system, and prioritises affordability, resilience and long-term security. In an increasingly uncertain world, the message was clear: energy security is national security.