Comment on party election manifestos
All major parties have now published their manifestos.
By Alasdair Johnstone
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Commenting after the major parties have now both published their manifestos, Alasdair Johnstone from the Energy and Climate Intelligence Unit (ECIU) said:
"A stark reminder of the problems facing the UK’s energy system will come shortly into the new government’s term with energy bills set to rise again ahead of the winter as wholesale gas costs bite again [1]. Insulating homes so they don’t waste energy, switching from gas boilers to electric heat pumps and accelerating the build-out of British offshore wind, will help to stabilise bills. At a time when North Sea oil and gas output is continuing its inevitable decline these measures will do much, much more for the UK’s energy security than new exploratory drilling licences might [2].
"Against economic stagnation, the net zero economy grew 9% last year and now stands at £74bn with hotspots in spread across the in country in places like Derby North, Nuneaton, Redcar and Ashfield [3]. But with the US and EU now implementing policies and incentives to compete for these clean industries, the UK will need to do much more to secure the investment that will maintain that growth."
Notes to editors:
1. Energy bills remain £450 more expensive than before the gas crisis started (https://eciu.net/media/press-releases/2024/ofgem-price-cap-update-analysis-and-comment) and are set to increase again towards the end of the year (https://www.cornwall-insight.com/press/wholesale-price-hikes-and-ofgem-updates-raise-price-cap-forecast/)
2. Recent ECIU analysis found that the rise in British renewables will play a much larger role in bolstering the UK’s energy security than potential new domestic oil and gas production: https://eciu.net/media/press-releases/2024/new-analysis-renewables-critical-to-do-heavy-lifting-on-uks-energy-security-as-north-seas-role-diminished
3. Analysis of the UK’s net zero economy by CBI Economics and The Data City, which also found that key battleground seats in the General Election are three times more likely to be net zero economic ‘hotspots’: https://eciu.net/analysis/reports/2024/the-uks-net-zero-economy-2024
For more information or for interview requests:
George Smeeton, Head of Communications, ECIU, Tel: +44 (0)7894 571 153, email: george.smeeton@eciu.net