Energy & Science
U.K. Industry Backs Green Levies for Gas to Reach Net-Zero Goal
- Adding policy costs to power makes electrification expensive
- Report comes as power and gas prices soar to record highs
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Big industrial users of energy in the U.K. would support shifting the cost of some government green policies to natural gas and away from power as a way to spur the electrification of the economy.
Some climate policies, such as subsidizing renewables, are currently loaded onto electricity bills. This makes power more expensive relative to fossil fuels and runs counter to a push to electrify more sectors, according to the authors of a University College London report published by the Aldersgate Group, which campaigns for green policies on behalf of industry.