29 August 2025

Britain faces a cost-of-Miliband crisis

The headlines

UK

• Ofgem price cap to rise

• Coutinho: CCC’s wind costing “misleading”

• Helm: it is time be honest about the costs of Net Zero

• Reform: get ready for fracking

• Ørsted crisis continues

• Starmer accused of breaking promise on Net Zero jobs

International

• Exxon says Net Zero goals have slipped

• Porsche scraps plans to build EV batteries

Etcetera

• Media, op-eds and all the rest.

From the blog

• We have a cost-of-Miliband crisis

• Manufacturers have been silenced

UK

Ofgem price cap to rise

Typical household energy bills will rise to £1,755 a year in October, putting a further squeeze on consumers as they prepare to face tax rises in the autumn. Ofgem, which sets the limit on what energy companies can charge customers, confirmed average bills will rise by 2pc later this year, which is more than the 1pc jump that had been predicted.

Coutinho: CCC’s wind costs are “misleading”

Claire Coutinho has accused the Climate Change Committee of using “unrealistic” offshore wind cost estimates in Carbon Budget 7. In a letter to CCC Chair Nigel Topping, she warns the assumptions risk misleading Parliament and inflating future energy bills. She urges urgent revisions before the vote.

Helm: it is time be honest about the costs of Net Zero

Oxford University’s Dieter Helm has warned that UK energy prices are soaring because policymakers ignore the full system costs of renewables. He calls the 2030 net zero target “deluded”, arguing it will require double the capacity for the same output and drive prices even higher.

Reform: get ready for fracking

Reform UK is telling energy firms to prepare for fracking, promising to lift the ban if elected. Richard Tice calls shale gas an “energy treasure” and says pilot drilling could begin within two years. Labour vows a permanent ban, warning fracking is costly, unpopular, and out of step with the clean energy transition.

Ørsted crisis continues

Ørsted, Britain’s largest wind operator, is in turmoil after the Trump administration halted its $4bn US wind farm, triggering a record share slump. The Danish state-backed firm, which supplies 7% of UK power, is now scrambling to raise £7bn as market confidence collapses. The company also confirmed it has pulled out of the UK’s AR7 subsidy round, citing a lack of eligible projects

Starmer accused of breaking promise on Net Zero jobs

Britain’s leading trade union Unite has accused Sir Keir Starmer of of false promises because “not one penny” of the £200m-worth of support he pledged to ex-Grangemouth workers has materialised.

International

Exxon says Net Zero goals have slipped

ExxonMobil said net zero goals for the global energy sector are likely to drift further beyond 2050 due to consumers pushing back against high costs and a revival in demand for coal. They also revised up forecasts for natural gas demand, which it sees increasing more than 20% by mid-century due to rising global power use.

Porsche scraps plans to build EV batteries

Porsche has scrapped plans to produce its own electric vehicle batteries, citing weak global demand and lack of scale. Its Cellforce unit will be wound down, triggering job losses, as Porsche shifts focus to R&D.

Etcetera…

Maurice appeared on both Talk TV and GB News to discuss the Ofgem price cap and Net Zero’s role in rising energy bills.

Andrew featured on GB News to discuss balancing costs.

Andrew Neil writes Net Zero is crippling Britain with high costs, failing industry, and false promises. Orsted’s collapse exposes the myth of cheap renewables, while Miliband’s energy agenda risks becoming Labour’s biggest political liability.

From the blog

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