Reducing energy prices goes hand in hand with rapidly decarbonising our energy system
The UK is currently in the grips of an unprecedented fossil gas price rise, pushing consumer and industrial energy bills to levels that will almost certainly cause the worst cost-of-living crisis in a generation.
Originally driven by post-pandemic global gas demand, further volatility has now entered the market due to the horrendous events in Ukraine. The EU’s reliance on Russian gas, which directly impacts the UK wholesale price, is coming under greater scrutiny, with such dependency seen as neither secure nor acceptable. As a result, gas prices and energy bills are expected to remain high for the foreseeable future and there is a renewed focus on what role renewables, including bioenergy, can play to deliver both security of supply and move away from imported fossil supplies.
However, before addressing the energy mix, there is a need for immediate government action to directly address energy bills. For the most...