Britain’s government outlined plans on Tuesday (21 April) to reduce household energy bills by encouraging wind and solar producers to adopt long-term fixed contracts.
The initiative aims to sever the link between volatile gas prices and electricity costs in the world’s fifth-largest economy, where the two have historically been closely tied.
The UK’s centre-left government hopes voluntary long-term contracts with renewable suppliers will eventually cover around a third of the nation’s power supply.
Officials said Britain had moved from gas setting electricity prices around 90% of the time in the early 2020s to roughly 60% today.
UK domestic energy prices are forecast to rise by more than 10% from July, as the regulator implements its quarterly price cap adjustment. Wholesale gas costs are currently about 30% higher than before the Middle East conflict began at the end of February.
The increase in electricity costs threatens the Labour-led government’s pledge to lower energy bills, at a time when the party is trailing in second or third place in most opinion polls.
"As we face the second fossil fuel shock in less than five years, the lesson for our country is clear: the era of fossil fuel security is over, and the era of clean energy security must come of age," Energy Secretary Ed Miliband said.
excess profits from wind and solar generators when electricity prices surge — to 55% from 45%.
The government also plans to overhaul planning and land-use rules to accelerate grid connections and infrastructure upgrades. It aims to make it easier for renters and flat-dwellers to install EV chargers, solar panels and heat pumps.
Opening up public land for renewable energy projects - including brownfield, industrial and railway sites - could allow for up to 10 gigawatts of new capacity, according to the government’s plans.
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Britain’s government outlined plans on Tuesday (21 April) to reduce household energy bills by encouraging wind ...
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China's domestic automakers have a message for the boardrooms of premium German brands such as Porsche, Mercedes-Benz, and BMW: We are coming for your customers, and we are armed with superior technology at a fraction of the cost.
Prospects for new peace talks between Iran and the U.S. are “dim,” with both sides operating on false assumptions, a political analyst told AnewZ.
A Canadian woman has been shot dead and 13 others injured in a shooting at the Teotihuacan pyramids on Monday, one of Mexico’s most visited tourist attractions.
Iran accuses the United States of breaching a ceasefire after a commercial ship was seized in the Gulf of Oman, vowing retaliation, as Israel warns south Lebanon residents to avoid restricted areas.
Progessive Bulgaria, led by pro-Russian Eurosceptic Rumen Radev is on track to form Bulgaria’s next government, after official results showed a runaway victory for the coalition in the Balkan nation's parliamentary elections on Monday (20 April).
Pakistan is confident it can bring Iran to talks with the United States, a senior official said, citing “positive signals” from Tehran, as JD Vance is reportedly set to visit Islamabad on Tuesday for peace talks, according to Axios.
A powerful 7.5 magnitude earthquake has struck off Japan’s north-eastern coast, triggering urgent tsunami warnings with waves of up to 3 metres expected, prompting residents to seek immediate safety.
Blue Origin, the U.S. space company of billionaire Amazon founder Jeff Bezos, successfully reused and recovered a booster for its New Glenn rocket launched from Florida on Sunday (19 April), in the latest chapter of its intensifying rivalry with Elon Musk’s SpaceX.
The escalating conflict involving Iran, the U.S. and Israel is fuelling what could become the most severe energy crisis the world has ever faced, according to the head of the International Energy Agency (IEA).
A Canadian woman has been shot dead and 13 others injured in a shooting at the Teotihuacan pyramids on Monday, one of Mexico’s most visited tourist attractions.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 21st of April, covering the latest developments you need to know
Japan on Tuesday unveiled its biggest overhaul of defence export rules in decades, scrapping restrictions on overseas arms sales and opening the way for exports of warships, missiles and other weapons.
Hungarian election winner Péter Magyar on Monday nominated András Kármán as finance minister, Anita Orbán as foreign minister and István Kapitány as economy and energy minister in his incoming government, as previously indicated.
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