Naturally Unnatural Issue #4 6th May 2017 | Page 3

Issue #2, 22 nd April
efficient power and gas trading with Eu-
A continued commitment to decarbonisa- rope. Brexit is a challenge for the incom-
ing government but the EU International
tions through long-term support for all
Energy Market is widely regarded to
low carbon technologies, it was estimat-
ed that power generation output from low have led to greater and more efficient
trading in power and gas. By enabling
carbon sources contributed to 49% of
total electricity generation in 2016. How- access to a diverse range of supplies im-
proves security of supply and low costs
ever, the removal of a route to the least
for consumers.
cost renewable and low carbon energy
sources has had a ‘detrimental impact’ on Chief Executive of Energy UK, Lawrence
consumer bills.
Slade said: “Contributing over £18bn in
...continued from page 2
An industrial strategy built on a low car-
bon economy by reconfirming the com-
mitment to the Climate Change Act 2008
and developing a strategy to deliver a
low carbon future across the power, heat
and transport sectors. The UK energy in-
dustry has invested around £42 billion
into the industry since 2010 along with
adapting and upgrading networks to
meet future energy demands and chal-
lenges within the UK. Finally, ensuring
investment and supporting over 637,000
jobs across the country, the energy sector
is critical to the UK’s economic success.”
Analysis of the princi-
ples
The principles do outline that Energy UK
are still highly dependent on gas and oil
for energy supplies and whilst the idea
that a competitive market lowers prices
for consumers. The Big 6 energy compa-
3
nies have remained dominant within the
UK and little has been done to stop this.
Meaning consumers haven’t been getting
the best deals. It is common practice for
large competitors such as these to work
together in driving up prices whilst main-
taining the image of fierce competitors.
The principles underline a reluctance to
mention renewables and suggests further
investment into practices such as fracking
and seemingly pushes for further private
investment from overseas, when it is the
lack of funding and the delays to the
Emissions Reduction Plan (ERP) from the
last government that pushed prices up for
consumers and de-diversified the mar-
ket. Whilst the principles set out clear
guidelines, the incoming government
should focus public divestment from coal,
oil and gas. The renewable sector should
be the focus of a low carbon economy,
with further investment into solar and
wind energy, along with innovation with-
in energy storage solutions.