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 on
26 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.