Thursday, 21 February 2013

Cheaper energy is more important than going green

That’s certainly what Energy Secretary Ed Davey tells us, saying it’s impossible to “turn back the tide” of rising energy prices.

But instead of unrelenting increases, instead of a collapse in our capacity to generate energy and instead of fears that we will soon be in hock to Russian gas oligarchs, imagine a different story.

Imagine the price of gas falling by two-thirds in less than a decade. Imagine electricity prices crashing by more than a quarter in less than a year. It sounds like a fantasy. Too good to be true.

A little later I shall tell you why it needn’t be. But first let us reflect on Britain’s actual energy policy.

Yesterday Alistair Buchanan, the departing head of energy regulator Ofgem, warned that our energy reserves are “uncomfortably tight”.

If we think the rises in energy prices have been bad enough already then we need to think again. This, he said, is only the start.

As Mr Buchanan put it, the combination of British power plants closing, foreign gas supplies shrinking and demand for energy rising has tipped us perilously close to the edge. He is simply stating the obvious.

via Cheaper energy is more important than going green | Express Comment | Comment | Daily Express.

Cheaper energy is more important than going green

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