The UK will need to reduce carbon intensity by 9.7% a year if it is to meet its Net Zero by 2050 goal, according to new research by PwC.
Energy companies Orsted, SSE and Drax, along with non-profit climate change think-tank Sandbag, have together written to Chancellor of the Exchequer Sajid Javid, urging him to “maintain the UK’s robust approach on carbon pricing".
A strong carbon price is "essential" but can’t facilitate decarbonisation alone, the Committee on Climate Change (CCC) said.
Britain’s high carbon prices look set to drive more prolonged periods without coal generation, but the country is still reliant on coal power from overseas, energy analyst firm EnAppSys has claimed.
In the first of a series of blog posts from NextEnergy Capital on what’s needed to herald in the low carbon energy transition, MD Abid Kazim examines the need for and benefits of a wholly new approach to carbon pricing.