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U.K. Energy Sector Only Has to Spend 7% More to Hit Net-Zero Goal

  • National Grid outlines expense of decarbonization by 2050
  • No major cost difference in scenarios analyzed until mid-2040s

Reaching Britain’s net-zero emissions pledge will cost the energy industry 3 trillion pounds ($4 trillion) as the nation upends its heating and transport sectors and expands renewable power generation.

The price tag is broadly the same in all four scenarios calculated by National Grid Plc, the U.K. power network manager that published its estimates in a report on Tuesday. There’s only a 7% difference in the cost of the quickest and greenest pathway and the slowest trajectory where the 2050 target is missed, easing concerns that decarbonization is prohibitively expensive.