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grw_ | 1 year ago

My comment wasn't implying that importance of wind in the UK energy mix (or lack of investment in nuclear) is specifically the reason for high costs but I agree that government policy is indeed to blame.

As to whether the cause is Tory ban of onshore wind- I'm skeptical. I don't think wind is any cheaper than gas once you include the necessary energy storage capacity- especially when there is huge amounts of gas sitting under the north sea which the new Labour government is planning to ban pumping: https://www.forbes.com/sites/gauravsharma/2024/07/12/sudden-...

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ZeroGravitas|1 year ago

Even offshore wind is about twice as cheap as electricity from north sea gas, onshore about twice as cheap again.

Also, they're banning looking for new gas, the cost of which is 91% subsidised.

> The new 80% Investment Allowance will mean businesses will overall get a 91p tax saving for every £1 they invest – providing them with an additional, immediate incentive to invest. This nearly doubles the tax relief available and means the more investment a firm makes, the less tax they will pay.

https://www.gov.uk/government/publications/cost-of-living-su...