Head of Analysis at @ECIU_UK. Fomerly @UKHouseofLords, @ImperialCollege, @Ofgem. Physics PhD @UnivOfStAndrews. #Munroist. Views own. Retweet ≠ endorsement.
Gairloch
Joined October 2021
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.@beisgovuk #CfDs AR4 helps shield against future #GasCrisis – as does extension of 2030 #OffshoreWind target to 50GW.
@ECIU_UK calculates £34bn/yr savings in 2030, under last winter’s price.
Chart shows offshore. #Solar & #OnshoreWind could add more if given chance.
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Finally, onshore wind & solar CfDs would save £1.4bn/yr - low because they’ve rarely been allowed to bid for CfDs, despite cheap costs.
They’ve been allowed back in for AR4, but with a low cap. And Gov’t has no target for onshore - and a 70GW aim for solar but no clear plan.
.@ONS data highlights role of #GasCrisis and #PetrolPriceHike in #CostOfLivingCrisis.
Energy contributed 3.2% to #CPIInflation of 9.1% for 12mths to May-22 (rounding means don't sum):
- Road fuels 0.9%
- Gas 1.2%
- Electricity 1.0%, driven by gas, cushioned by #LowCarbon
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🏡 💷 Revealed: how much #NetZero 'electric households' are saving on bills
"Rapid changes in #FossilFuel prices are causing this difference to grow... it's a constantly changing picture & it's only getting worse," ECIU's @SimonCMcG
@SeabrookClimate bit.ly/3yjIGfG
But poorer households can struggle to make the initial investment, e.g. even just a few £100 for basic #insulation. That's why @beisgovuk support through #EnergyCompanyObligation and #BoilerUpgradeScheme is key - helping poorer households access lower running costs of #NetZero.
.@hmtreasury is giving £billions to pay #bills to ease #CostOfLivingCrisis. Lasting solution is to support more households to improve #EnergyEfficiency and move off #FossilFuels and onto #NetZero tech:
- Cuts #bills
- Cuts #inflation
eciu.net/analysis/reports/20…
