Ed Miliband has been elected as the new Secretary of State for Energy Security and Net Zero following the Labour Party’s landslide victory in the general election.
The flagship renewable power auction, known as Contracts for Difference, has published the results of its Auction Round 5 (AR5), revealing that just 3.7GW of projects have been awarded funding.
Around 70,000 extra jobs in the onshore wind sector are needed between now and 2030, says a report by the Offshore Wind Industry Council (OWIC), with the total exceeding 100,000.
British multinational oil and gas company Shell recorded its “highest-ever” annual profits in 2022 amounting to £32.2 billion, with only £1.86 billion estimated to be paid via the UK and EU’s windfall taxes for the year.
Net zero will require £33 billion of extra spending per year until 2050, according to new analysis from thinktank IPPR's Environmental Justice Commission.
Calculations made by HM Treasury of the cost of net zero have been labelled “slightly disturbing” by former leader of the Labour Party and co-chair of IPPR’s Environmental Justice Commission, Ed Miliband.
