• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 49 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 1 hour How Far Have We Really Gotten With Alternative Energy
  • 3 hours Bad news for e-cars keeps coming
  • 12 days What fool thought this was a good idea...
  • 10 days A question...
  • 4 hours The U.S. Is Determined to Revolutionize Its Microchip Industry
  • 14 days Why does this keep coming up? (The Renewable Energy Land Rush Could Threaten Food Security)
  • 15 days They pay YOU to TAKE Natural Gas
Could Thailand Become the Next Electric Vehicle Powerhouse?

Could Thailand Become the Next Electric Vehicle Powerhouse?

Thailand is rapidly developing its…

Kazakhstan Joins EU program to Help Promote a Green Transition

Kazakhstan Joins EU program to Help Promote a Green Transition

Kazakhstan is considering new procurement…

The UK Has No Credible Plan for Its Energy Transition: Report

The UK lacks a “credible plan” to achieve net-zero status, a report by the House of Lords industry and regulators committee has warned.

“There is no point planning a carbon-free energy future if you haven’t got a clue how you will get there or how it will be paid for,” said Lord Clive Hollick, the chairman of the committee, as quoted by the Financial Times.

The country has committed to net zero emissions by 2050 and, before that, completely decarbonize its grid by 2035. A ban on the sales of internal combustion engine cars is also part of Downing Street’s plans for decarbonization.

These are lofty goals, but the government has so far either failed or been unwilling to discuss how they will be accomplished and who will shoulder the financial burden, the report said. Specific incentives aimed at moving the country forward towards these goals have also not been specified.

So far, the only idea that the government seems to have put on the table is adding surcharges on electricity bills. This may not be the best way to work towards net zero, however, especially since electricity bills are about to surge from April this year after Ofgem, the grid regulator, raised the ceiling on electricity costs prompted by the energy and gas crunch that hit the UK along with Europe last autumn and winter.

According to the authors of the House of Lords committee report, this additional surcharge burden on household electricity bills will add unfair pressure on consumers who are already suffering the worst consequences of the energy crunch, the Financial Times reports.

“Bills are regressive as the poor pay more of their income on energy costs . . . the government should look again at using greater public borrowing to fund what are huge and long-term infrastructure costs,” the report said.

By Irina Slav for Oilprice.com

ADVERTISEMENT

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News