Cornwall Insight has released a new report indicating that under the UK Government’s current plans for hydrogen, fuel bills could increase by 70% to 90% more than gas on average.
On 23 September, Chancellor Kwasi Kwarteng unveiled the UK Government’s prospective Growth plan aiming to reduce the cost of energy bills, at an expected cost of £31 billion over its first six months.
If the UK was not generating electricity from renewable sources, liquified natural gas (LNG) imports would need to more than double, said RenewableUK via new analysis.
A rise in the cost of energy has had a severe impact on the transition of small and medium enterprises (SMEs) in their pursuits of lowering carbon emissions and adopting green technologies.
Although the introduction of the Energy Price Guarantee is a broadly welcome and required intervention by the UK Government, there are number key clarifications needed.
