The UK government argues that the entire economy is aiming to reduce electricity costs and bill costs.
The UK’s shift to renewable energy will not cut electricity prices, the UK gas boss said.
Centrica has one of Europe’s largest renewable energy portfolios, and hopes to invest up to £4 billion ($5.3 billion) by the end of 2028.
Additionally, floating offshore winds and tidal rivers remain extremely expensive.
“They may give price stability and avoid future price surges based on the international gas market, but they definitely won’t lower prices,” says O’Shea.
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He said, “The next time someone says construction from renewables will lower the UK’s electricity prices, they ask me to explain how to do that.”
“We need to stop the discussion of polarization where unfounded, but convenient, sound bites live, because we need to communicate facts so that we can make the right decision,” he said.
He said he It fully supports the “transition to a cleaner energy system.”
In 2019, the UK passed a law requiring that all greenhouse gas emissions be net-zero by 2050.
The UK is known for being a global leader in renewables, particularly when it comes to wind energy offshore.
According to research and innovation from the UK, a national funding agency investing in science and research, it has more capacity than any other country, accounting for around 20% of the world’s offshore wind capacity.
According to the UK government, the UK’s electricity prices are gradually higher than the electricity prices of most other EU countries. In the early 2000s, domestic electricity prices were the second lowest in the EU, and at the time it was the EU-15.
Leaders say the enormous spending needed to move away from fossil fuels will cut energy bills.
Labour, Secretary of State for Energy and Climate Change, Ed Miliband, has pledged to cut 300 pounds ($400) from the average household electricity bill by 2030.
National Energy System operator NESO said the Clean Power 2030 plan would cost more than £40 billion ($53 billion) a year by the end of 2030.
Critics of the UK’s Net Zero Policy claim that renewables added bill costs.
Think Tank Net Zero Watch, which scrutinizes climate and decarbonization policies, has recently argued that high electricity prices are due to the impact of gas prices on the wholesale market.
“A three-quarter increase in bills since 2015 could be attributed to net zero,” he said, saying the substantial increase of £327 ($435) will be driven primarily by renewable energy subsidies (£83), carbon tax (£39), grid balance (£26), capacity market costs (£26), and grid strength (£23).
The Energy Security and Net Zero spokesman division told the Epoch Times: “We are creating a clean energy superpower in the UK to descend the roller coaster of a dictator-controlled fossil fuel market and replace it with the clean, self-power we control.
“As shown in the National Energy System Operator’s Independent Report, Clean Power is achievable by 2030, providing a safer energy system, with lower power costs and lower billing.”
