More than 100 energy companies are sending a letter to prime minster Rishi Sunak warning about the UK’s overreliance on gas.
The letter comes after the Office for Budget Responsibility (OBR) warned of catastrophic effects on the economy of continued overreliance on gas, as reported by the Observer.
The energy companies fear that investment into green industries will go to the EU and US due to clashes between the Labour and Conservative party regarding the climate emergency.
Furthermore, the OBR reported the UK is one of the most “gas-dependent economies in Europe”, adding that around £327 billion of investment would be needed to reach the target of net zero by 2050. It also noted that the government had so far only committed the equivalent of £22.5 billion.
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Speaking to the Observer, Alok Sharma, the former president of COP26, said it was time for the government to stop dithering and reform planning rules to allow more onshore windfarms.
“The OBR report reinforces the economic case to move much faster on deployment of renewables in our energy system, which will ultimately help to bring down household energy bills and protect us from future fossil fuel price shocks,” Sharma said.
“One quick win to unlock green energy investment would be for the government to stop prevaricating and reform the planning system now to allow for more onshore wind to be built, which is one of the cheapest forms of energy available.”
