The UK spring budget announced investment of £20bn spread over the next two decades in carbon capture and support for nuclear, with a commitment to ‘spades in the ground on these projects from next year’ as energy security secretary, Grant Shapps , put it. He added ‘already a global leader in offshore wind power, we now want to do the same for the UK’s nuclear and carbon capture industries, which in turn will help cut the wholesale electricity prices to among the lowest in Europe.’ The plan is seen as part of the government’s wider strategy to address high energy costs in the future. And also as part of its Net Zero policy. Trade group Energy UK said: ‘High energy bills in the UK have been driven by international gas prices, so boosting our own sources of clean generation is a must to shield us from future price shocks’. But it’s hard to see how investing in CCS will help- that is fossil based. And, like nuclear, it's expensive. Energy UK does say that the new governme...
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