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I could comment at length but this is very, very bad news.
I wonder if this is the point that conservative Conservatives finally realise that they've been abandoned by their party as it chases neo-liberalism and money at all costs.
step in the centralising agenda of this government.
So much for localism, eh?
so far down the road that they vanish in a fog of CO2.
Vote blue, go green!!!!!
fracking hell, will people stop calling everything iSomething, ughhh.
in this thread to say this is bad news.
Y'see I'd always thought fracking was becoming a necessary evil owing to the twin opposable needs to a) build green infrastructure/pay green taxes and b) ensure that this doesn't cause consumers energy bills to rise to significantly higher levels. I've come round to the idea that fracking could be used to ensure b) doesn't happen while a) is able to be funded using but... is this too simplistic a way of looking at it?
FRACKING FOR ALL. Except at my gaff.
Pretty granular NIMBYism that.
green/renewable energy generation innovation and adoption.
The energy-generation sector in this country (and in many others) has been privatised to such an extent that only the rising costs of extraction/refinement of fossil fuels were going to push us towards greener sources. This effectively pushes back that tipping point for 20 years.
20 years is optimistic, it's more like 50. Continued centralised generation as we'll be using gas as a baseload.
Micro/district generation is effectively dead in the water now.
I'm only in favour of fracking if it's used as a way of keeping energy costs low whilst increasing commitments to green/renewable sources. Makes sense to me but if the market's structured in a way that makes it impossible then that's... well. Very, very dark.
Seems the only way to invest in greener energy from now on is to pass the costs of it onto the consumer. There's something deeply wrong with that.
compared to other European countries, but then again they have much higher construction standards than ours and bigger state investment in alternative technologies.
There is an alternative to passing it directly onto the consumer and that is for the state to take on the risk. It's what the energy companies have forced the British government to do with nuclear, but the structure of the UK sector has meant that the risk is nationalised, and the reward is privatised.
Wholesale prices in the UK are around 20% higher than those in the EU.
Can't find the slide I really wanted to show you with average wholesale exchange prices because I don't think it's been made publicly available
(Which is what GOML was talking about).
Of course, as an overall burden it's more here, but that's because the UK's energy efficiency lags so far behind other EU countries.
Also if you really want to go to town, this is great.
...but as a variable in the cost of living equation any real terms increases in energy prices are going to fuck a lot of people in the UK. Esp. with increasing rents/cost of childcare/everything else. Interesting how people on the right have now taken up this line of argument as a means of justifying ducking out of green obligations. (Seems to be The Spectator's editorial line right now, anyway).
Cheap now it might be, but I can't see the wiggle room for an increase. Your last paragraph is probably never going to happen. Gah.
but the rise in energy bills in this country is dwarfed by the rise in rent/mortgages and childcare. The likes of the Spectator would find that their argument has more merit if they were to even want to reduce either of those two.
and most of their readers, have paid off their mortgages, and had their kids move away? Would explain why they'd be more alarmed about energy prices going up.
if they weren't claiming that fracking is the panacea to the cost of living crisis for everyone in the UK.
There is a mutual benefit to higher prices - it incentivises consumers to consume less and to be more efficient. Ridiculously quickly. Renewable energy will mean energy gets more expensive (subsidies+upgrades to grid) short term, but this isn't a bad thing. Consumers react fast and they stop using so much energy and start demanding that their appliances are more efficient which has a radical effect on the entire retail chain.
Ask any energy expert the quickest, cheapest and most effective way to reduce emissions and they'll say demand side management.
The way to handle energy poverty is not through the maintenance of low subsidised tariffs, but by the payment of an ex-post bonus which is delinked from the actual energy bill. This maintains the incentive to consume less and more efficiently, as then they get extra money. There's an argument in here for a universal benefit but I won't go that far.
if you remove the fact that the supplies/extractors of oil deliberately run at below capacity and, as OPEC, operate as a cartel, to maintain high prices.
almost no-one uses oil-fired generation these days in the EU. It's too polluting to comply with environmental standards and hilariously inefficient in terms of cost/profit due to the price of oil and the unsuitability of using it to power huge power plants rather than transport.
As it's a global market.
Also, we shop probably stop conflating energy and electricity, it's like people who conflate debt and deficit.
And gas and coal practically so for generation under current market conditions.
So there are two very very separate markets. Certainly some of the big players invest in both Oil & Gas but one rarely impacts the other. Sheeldz can maybe expand/correct me here, but we don't usually find much gas on oil extraction sites and vice versa these days. The quality in either case is significantly diminished - well gas from oil which you often see being burnt off doesn't have a high enough calorific content for domestic usage.
in the UK the gas market is nearly entirely spot and not remotely LTC based these days anyway.
(macroeconomic growth, consumption etc...) But that oil and gas have a very limited and marginal impact on each other, even if they will both trend the same way due to the particular overall economic climate
we don't have oil indexed gas contracts.
There is no logical reason as to why a transport fuel would push up the price of electricity generated from gas and coal.
was a brave choice.