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Net Zero is Not to Blame for Higher Energy Bills

Net Zero is Not to Blame for Higher Energy Bills

 

British consumers are clutching their wallets as energy regulator Ofgem announced an 80% increase in annual household energy spending in October 2022, following April’s 54% increase. The spike — resulting from the high economic demand for energy during the COVID-19 recovery — will drive costs from £1,971 to £3,549 per year.

Political opponents of the UK’s climate policies have maximized on consumers’ struggles, with the ongoing energy crisis becoming a welcome talking point against the nation’s aim to reach net zero. Combined with concerns about the Russian invasion of Ukraine, tensions are high regarding power.

British PM Liz Truss has issued an annual household cap of £2,500 on energy bills for two years, starting on October 1. Companies will also receive a six-month reprieve, in which Truss suggests businesses find ways to improve energy efficiency.

For instance, upgrading old technology and installing energy-efficient light bulbs and motion sensor lights in halls and bathrooms are possibilities. Likewise, contracting an energy consultant can help companies find ways to lower energy costs without having to hire an in-house team member.

Overall, global consensus indicates that 84% of people want their countries to shift away from fossil fuels, despite 54% admitting that their energy spending might go up. However, net zero is not to blame for the current energy crisis. Here, we unpack three myths about renewable energy and net zero.

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1.   Fracking Will Offset Energy Bills

The thought that resuming fracking could offset current energy bill costs is a myth. Natural gas prices increased in Winter 2021 for several reasons, including upgrades and repairs on gas infrastructure and lower wind generation. Likewise, there was initial uncertainty about how Russia’s attack on Ukraine would interrupt the market.

The UK has already addressed fracking, ending its support in 2019 because of possible tremors and infrastructure damage. A report by the Oil and Gas Authority (OGA) found that seismic activity from fracking could reach up to 2 kilometres from the site, potentially causing cracks and damage to buildings and potential harm to the public.

Additionally, fracking still wouldn’t produce enough shale gas to impact the European energy market significantly.

2.   The UK Will Need to Import from Other Countries

According to the recent UK Department for Business, Energy and Industrial Strategy report, renewable energy generation increased by 6.5% year-over-year (YoY) for June 2022 — the most substantial renewable capacity since early 2018.

In fact, the energy demand decreased with record renewable generation, replacing natural gas for electricity generation.

Renewable energy efficiency isn’t new, though. Humans had turned to alternative energy sources like wind and water for centuries before technological advancements paved the way for diverse energy sources.

Today, renewables power 60% of the UK’s energy — however, the UK market sets energy prices based on the most expensive source, natural gas. The UK government maintains little control over gas prices — the country relies on its reserves in the North Sea and turns to the global markets to make up the rest.

Meanwhile, the chatter about Russian imports is null. Despite an increase of 37% in imports from Russia in 2020, less than 4% of the UK’s total natural gas supply comes from there.

3.   It’s Impossible to Reach Net-Zero

Climate opponents can tout whatever misinformation they’d like about achieving net zero. They can’t deny that countries like Suriname and Bhutan have already found cost-effective solutions to reach carbon neutrality.

For instance, Bhutan’s population of 750,000 people eliminates three times as much carbon dioxide (CO2) as it produces, while Suriname has pledged to maintain over 35% of renewable energy for electricity generation by 2030.

Granted, the UK is a far bigger nation with more CO2 to offset. However, it’s already made strides in reducing emissions and signing significant climate policies into law. With its 10-point plan investment of £12 billion to reduce 68% of CO2 by 2030, the UK is on track to reaching its target faster than any other economy.

Energy Bill Inflation Is a Result of Greed

Climate opponents would like you to think that climate policies are sending British consumers into financial ruin. The reality, of course, is that much of the rising costs can be blamed on greed and anti-climate ideologies. Renewables have the potential to drive energy bills down while reducing financial and geopolitical disruptions in energy service.

Author bio:

Jane works as an environmental and energy writer. She is also the founder and editor-in-chief of

Environment.co.



Author Image
Janet Richardson

Janet is an accomplished director and writer at The Renewable Energy Hub. Janet has worked at a senior level at a number of publishing companies and is an authority on renewable energy topics. Janet is passionate about sustainable living and renewable energy solutions, dedicated to promoting eco-friendly practices and creating a vibrant community of eco-conscious individuals and businesses seeking sustainable energy solutions.

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