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.
The U.S. military announced that it has completed a new wave of strikes against Iranian military targets under U.S. President Donald Trump's orders. T...
The German broadcaster says energy, trade, transport and regional stability are transforming relations between Baku and Berlin....
Aid organisations in Afghanistan are struggling to keep women in work as Taliban restrictions force them to spend more on male guardians, transport an...
The U.S. military announced that it has completed a new wave of strikes against Iranian military targets under U.S. President Donald Trump's orders. The operation targeted command centres, air defence systems, missile and drone facilities, and coastal surveillance sites across multiple locations.
The German broadcaster says energy, trade, transport and regional stability are transforming relations between Baku and Berlin.
The Trump administration is pressing ahead with new immigration rules that will impose fixed time limits on visas for foreign students, cultural exchange visitors and journalists, tightening requirements for thousands of people who study and work in the U.S.
A Russian Soyuz spacecraft carrying two Russian cosmonauts and one U.S. astronaut successfully docked with the International Space Station (ISS) on Tuesday, highlighting continued U.S.-Russian cooperation in space despite wider geopolitical tensions.
U.S. President Donald Trump announced the reimposition of a U.S. naval blockade on all Iranian ports and warned that power plants and bridges could be targeted next week unless Tehran returns to negotiations.
The United States carried out a third consecutive night of airstrikes against Iran, targeting military capabilities around the Strait of Hormuz as Donald Trump announced the reinstatement of a blockade on Iranian shipping and proposed a 20% fee on cargo passing through the strategic waterway.
The U.S. military announced that it has completed a new wave of strikes against Iranian military targets under U.S. President Donald Trump's orders. The operation targeted command centres, air defence systems, missile and drone facilities, and coastal surveillance sites across multiple locations.
The death toll from the fire at a live music pub in Bangkok has climbed to 32 after two more victims died from their injuries, according to Thailand's Police Hospital.
Ukraine and Russia exchanged fresh attacks on Tuesday, with Kyiv targeting shipping and energy infrastructure inside Russia while Moscow launched another large-scale missile and drone assault on Ukrainian cities.
The Trump administration is pressing ahead with new immigration rules that will impose fixed time limits on visas for foreign students, cultural exchange visitors and journalists, tightening requirements for thousands of people who study and work in the U.S.
Keir Starmer has reaffirmed that the UK's "unwavering" support for Ukraine will continue, during his final visit to the country as Prime Minister.
Two British hackers who carried out a cyberattack on Transport for London (TfL) that cost the transport authority £29 million to remediate have been jailed for a total of 11 years.
At least 11 people have been killed and 19 injured in a fire at an orphanage on the outskirts of the Algerian capital, state media reported. The blaze broke out early on Thursday at the institution in the eastern suburbs of Algiers.
A woman whose husband was sucked out of the window of a plane during a Ryanair flight has recounted pulling her husband to safety. Serbian couple Svetlana Maksimovic and Ljubisa Karovic had just settled into a flight with the airline last week, when a loud bang pierced the hum of engines.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment