UK Renewables auctions

Renewables auctions to be held annually in green energy push (via BBC)

By Roger Harrabin

The government has re–stated its faith in green technologies with a decision that it says will create a steady stream of renewable energy projects.

Energy Secretary Kwasi Kwarteng says renewable power is the best way to shield the UK from volatile gas prices.

He announced that auctions to supply low–carbon electricity will now happen every year, instead of every two.

He says this will bring more certainty to firms planning to invest in wind turbines and solar panels.

The renewables industry is delighted – especially after a week that’s seen the government’s energy policy under fire from some MPs and commentators who believe the costs of the drive to eliminate carbon emissions by 2050 are too high.

Mr Kwarteng said: “We are hitting the accelerator on domestic electricity production to boost energy security, attract private investment and create jobs in our industrial heartlands.

“The more clean, cheap and secure power we generate at home, the less exposed we will be to expensive gas prices set by international markets.”

His colleague, Energy Minister Greg Hands, added: “The UK is already leading the world in renewable energy and today’s announcement will take us even further.

“This will help provide cheaper energy to consumers, guaranteeing more of our energy is produced at home and reducing our dependence on fossil fuels.”

Read the full story from the BBC here…