To protect the economy and permanently lower bills, Great Britain needs to get off gas and rapidly build a low-cost, clean electricity system. This report “Cheap, Clean Electricity For Great Britain By 2030: A Framework To Lower Bills And Protect The Economy” by E3G sets out a framework for how this can be achieved, using the Labour Government’s 2030 clean power target as the guiding star. Great Britain is highly dependent on gas for electricity generation – which presents a major risk for households and national finances. The recent gas crisis pushed inflation sky-high and millions into fuel poverty, with the Treasury forced to subsidise energy bills by over £94 billion. Remaining dependent on gas imports means Great Britain could be hit by these crises again.
In contrast, a renewables-based electricity system could make bills lower than they were pre-gas crisis and shield Britain from future price spikes. Great Britain must transition rapidly to a clean electricity system or else it will be forced to build more expensive gas power stations by default. This new system should be underpinned by wind and solar power and managed with flexible demand and storage. These technologies can all lower bills. Alongside this, new low-carbon hydrogen power stations and green hydrogen storage should be rapidly built. This is a strategic future technology for Great Britain needed to decarbonise and protect our energy security. This is an area where it should prioritise using this valuable fuel. To effectively lower bills, the next stage of the clean electricity transition must be well-designed and successfully managed. This is essential as significant sums must be spent to transform Great Britain’s electricity system.
Access the complete report here
