Energy: Prices

(asked on 12th January 2023) - View Source

Question to the Department for Business, Energy and Industrial Strategy:

To ask His Majesty's Government what assessment they have made as to whether a mix of energy sources, including renewables, could facilitate a reduction in energy prices for consumers.


Answered by
Lord Callanan Portrait
Lord Callanan
Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
This question was answered on 26th January 2023

The BEIS "Electricity Generation Costs" report shows that on a levelised cost basis, wind and solar are amongst the cheapest forms of electricity generation in the UK. More low-cost renewables like wind and solar will ensure Britain is less affected by fluctuations in volatile global gas prices.

BEIS’s "Modelling 2050 – electricity system analysis" also shows that low-cost future electricity systems require a mix of technologies to balance demand and supply. Highly renewable systems have the lowest overall costs and lowest carbon emissions.

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