The Government last week published the British Geological Survey’s estimate of 1,300 trillion cu ft of natural gas stored within the shale rock deep beneath northern England. It is becoming clearer that the potential to transform our energy provision lies underneath our feet.

If only 10 per cent of northern England’s shale resources can be extracted, that would meet the UK’s current gas demand for more than 40 years. And at today’s prices, it would have a market value of almost £1 trillion, without considering the gas and oil deposits elsewhere in the country.

Some people argue we should generate more electricity using renewables instead of falling back on fossil fuels. After all, the Government has confirmed that renewables’ share of generation (around 9.6 per cent) will continue to grow. Decarbonising electricity generation is a key part of our energy policy.

But electricity generation accounts for only about a third of UK gas consumption. The remaining two thirds is taken up in heating our homes, firing our cookers and fuelling industry. So even if all our electricity demand could be generated without gas we would, without domestic shale gas, increasingly rely on expensive and potentially insecure imported gas. Clearly, gas and renewables will both form part of our energy mix for a long time to come.  MORE