Comment on Government energy announcements

“The gas crisis has made it clear that real energy security comes from moving away from oil and gas, particularly as the North Sea inevitably declines. With bills still high, no new money for insulation will leave many households in the cold.

“The Chancellor pushing back the response to the US Inflation Reduction Act and EU Net Zero Industry Act to the autumn could be the final nail in the coffin for businesses and offshore wind investors who will simply move investment to where there is long term policy and regulatory certainty. [2]

“If Government doesn’t create a level playing field for renewables compared to oil and gas, with inflation running high, this could see new wind farms still much cheaper than gas, but not as cheap as the last round approved. The International Energy Agency, UN Secretary General and Climate Change Committee are all clear that more oil and gas in the UK isn't aligned with net zero, and won't help to lower bills or improve energy security.”