MPs have called for green levies on energy bills to be scrapped or suspended, but that won’t help the UK avoid price shocks, says adamvaughan_uk
: £39.2 million, to be precise. In effect, renewable energy was helping suppress the rise in energy prices for supplies.at University College London. “It marks a turning point in the UK’s net-zero transition as it becomes clear that early renewable subsidies are paying off,” says Jess Ralston at the Energy and Climate Intelligence Unit think tank.at the consultancy Flint Global.
As wholesale prices are still high and expected to stay there for months or even years, the money flowing towards suppliers won’t be a blip. Figures aren’t yet available for the final quarter of 2021, but it is likely to have continued, says Watson.But Buckland says consumers may not see a big windfall: “Unfortunately, billpayers are still paying for historical green levies, meaning even as costs come down they won’t fully benefit.
However, the CfD scheme and other green levies do help household energy bills because of how they are changing our energy mix. As Ralston notes, gas bills have risen faster recently than electricity bills, which is because the levies have helped build wind farms and solar panel installations that mean electricity isn’t entirely reliant on gas.
“Those who seek to blame low-carbon technologies for high costs have it completely wrong – and this milestone illustrates why,” says Watson of the money being returned to suppliers. In the medium term, the way to avoid energy price shocks is to keep supporting the roll-out of low carbon technologies and implement stronger policies on energy efficiency, he adds.
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