• New Realism on UK Renewables Subsidies

    • Date: 23/11/16
    • Dr John Constable: GWPF Energy editor

    Frank discussion of the disadvantage of subsidy costs to renewables is now increasingly commonplace in Britain, amongst parliamentarians and others. This is extremely positive, and should give courage to government. But there is more to the full costs of these policies than income subsidies, and it is crucial that the Department of Business does not […]

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  • UK Electricity Reform Stalls

    • Date: 13/11/16
    • Dr John Constable: GWPF Energy Editor

    The UK’s new secretary of state for Business, Greg Clark, has just given his first public speech on energy. It suggests, unfortunately, that he is not yet sufficiently confident of his brief to resist the views of his civil servants. Indeed, this speech could easily have been written for Ed Miliband, or Chris Huhne, or […]

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  • UK Court Rules on Unwinding Of Renewable Energy Subsidies

    • Date: 06/11/16
    • Dr John Constable: GWPF Energy Editor

    The Court of Appeal recently upheld the government’s right to cancel the Climate Change Levy (CCL) exemption for renewable generators. In effect this is a retrospective removal of subsidy entitlement, and should remind investors that even a seemingly secure economic rent will collapse when push comes to shove. This has significant implications for the Carbon Price […]

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  • Subsidy Culture Undermines UK’s Green Industry

    • Date: 31/10/16
    • Jonathan Ford, Financial Times

    Job creation alone does not equate to a benefit for the economy One of the claims often advanced for renewable energy is that it will lead to a bonanza of what are called “green jobs”. It is a way of justifying the upfront costs involved in switching the nation’s energy production to these low carbon sources. The […]

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  • Robust and Fragile Electricity Systems

    • Date: 20/10/16
    • Dr John Constable: GWPF Energy Editor

    The recent South Australian blackout has triggered a debate about the manifest risks of wind farms to the security of electricity networks. National Grid’s 2016/17 Winter Outlook reinforces previous concerns that low-carbon policy mandates are resulting in electricity systems that are likely to be fragile in the face of external shock, and are therefore more […]

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  • Do Investments in Oil and Gas Constitute “Systemic Risk”?

    • Date: 19/10/16
    • Daniel Yergin and Elena Pravettoni, IHS Energy Strategic Report

     “Even a greatly accelerated shift towards renewables would not be able to relegate fossil fuels to minority contributors to the global energy supply anytime soon, certainly not by 2050.” Since 2014, some central banks and financial regulators have raised concerns that climate change may pose “systemic risk” to the financial system. This view was notably […]

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  • House Of Lords Inquiry: The Economics of UK Energy Policy

    • Date: 13/10/16
    • Global Warming Policy Forum

    The House of Lords Economic Affairs Committee is conducting an inquiry in the Economics of UK Energy Policy. The Global Warming Policy Forum (GWPF) has submitted the following written evidence. Executive Summary Despite relatively low wholesale prices, electricity consumers in all sectors of the UK (domestic, industrial, commercial and public sector) are facing the prospect […]

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  • Are Wind Power Costs Falling in the UK?

    • Date: 05/10/16
    • Dr John Constable: GWPF Energy Editor

    The only economically tenable justification for subsidies to renewables is that they will accelerate major cost reductions. Recent price bids for offshore wind in European waters have suggested to some commentators that costs might be falling significantly. However, empirical data throws doubt on this point, and suggests that other explanations lie behind the low prices […]

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