Renew Extra Weekly

 ‘At the moment, when gas prices are high, we end up paying more for our electricity, even though the cost of producing it doesn’t change. And so myself and Ed Miliband are now working to come up with a practical way that we can delink those prices’. So said Chancellor  Rachel Reeves . And a few days later,  Energy Secretary Ed Miliband doubled down on net zero with a new plan to face up to fuel prices rises and energy uncertainty, saying that in ‘the era of clean energy, security must come of age’.  In his new plan , the older ‘legacy’ renewables with Renewable Obligation (RO) contracts will have to move to fixed price Contract for a Difference (CfD) arrangements, to escape paying the Energy Generation Levy (EGL), the already existing  ‘windfall tax’ on excess  power market profits, which will be increased from 45% to 55% at peak gas price times. The extra funds raised by this will be used to cut household power bills. About 30% of renewable projects are ...