14 February 2025

Declaring war on renewables

The headlines

UK

• Reform targets renewables industry

• More moolah for biomass

• Gone with the wind

• Conservatives’ firming stance

• Energy prices to keep rising

International

• The Wright stuff

• Torrid times for green eurocrats

• Vance lecture

Etcetera…

From the blog

• Reform plans are ‘major threat’ to renewables auction

• The UK’s shaky ‘firm’ capacity

UK

Reform targets renewables industry

The Reform party announced that it would impose a windfall tax on the renewables industry, creating something of a social media storm. As we outline in our blog (see below), this creates huge political risk for any new renewables developments.

More moolah for biomass

With the UK running dangerously short of firm generation capacity (see blog section below), Ed Miliband extended the subsidies for the Drax biomass plant to 2031.

Gone with the wind

With its profitability disappearing, BP announced a major shift in its strategy, including a wholesale retreat from renewables.

Conservatives’ firming stance

The Conservatives appeared to adopt a slightly firmer stance on Net Zero, warning that Labour’s policies threatened to decimate jobs in the North Sea oil and gas sector. The trades unions are apparently very nervous about jobs.

Energy prices to keep rising

Energy suppliers are predicting that bills will rise by 6% in April, with a further 4% increase in July. With gas prices soaring again, these estimates are likely to be revised upwards.

International

The Wright stuff

New US Energy Secretary Chris Wright said that zero energy poverty by 2050 was achievable and good for people and planet. He was less enthusiastic about Net Zero.

Torrid times for green eurocrats

The EU has had a torrid week on the green front. The Commission was forced into a significant retreat, with tax commissioner Wopke Hoekstra telling the FT that only the largest importers in the bloc would now come within the scope of the carbon border adjustment mechanism. Then, with gas prices soaring, the Commission mulled a price cap – until the energy industry pointed out that this would lead to them going bust. Adding ignominy to it all, a Dutch newspaper claimed that the Commission has been funding green activist groups, and finally, it was reported that a coalition of business and right-wing groups is coming for the Green New Deal. Not before time.

Vance lecture

US Vice President Vance lectured Germany on its crazy deindustrialisation. The audience reaction was, ahem, muted.

Etcetera…

Andrew was on GB News talking about the possibility of a reversal on Net Zero and on Talk, discussing the major parties’ divisions on energy policy.

GWPF’s Harry Willkinson was on GB News talking about green plans to restrict air travel.

From the blog

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