The UK’s renewable generation sector has started the year in full force with 4 January seeing 87.6% of zero carbon electricity generated onto the grid – a new record for the nation.
If the UK had transitioned fully away from fossil fuels to renewable technologies it could have reduced the cost of energy bills in 2022 by around £1,750, the Energy and Climate Intelligence Unit (ECIU) has said.
The energy crisis could expose energy suppliers to around £1.9 billion of debt, much of which would be unrecoverable, according to a new report from Cornwall Insight and Complete Strategy.
The Confederation of British Industry (CBI) has urged the government to extend the Energy Bill Relief Scheme beyond March 2023 for high energy users to prevent plunging British industry into disarray.
DNV has released a new report which indicates the UK is set to miss its 2050 net zero target and has called on industry and government to mobilise a clear roadmap to attain the mid-century goal.
So Energy has revealed it is no longer exploring additional funding options, citing a fall in future wholesale prices, continued governmental support and ESB backing as a means of becoming more financially sound moving into 2023.
Both the National Energy Action (NEA) and the Social Market Foundation (SMF) have said that over seven million households face the risk of fuel poverty come April 2024 prompting calls for politicians to provide “workable long-duration policies”.
