Ed Miliband lays out Labour's net zero green energy pledge
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Labour has unveiled its new energy plan to tackle the soaring household bills, with the party pledging to unleash a revolution in green energy that will “boost jobs.” The UK is currently reeling from a major fossil fuel energy crisis, as the wholesale cost of gas is passed down to households, who were set to face an eyewatering £3,549 energy bills. While the new Prime Minister Liz Truss has since capped the energy bills at £2,500, this figure is still at a record high level that threatens to plunge millions of households into fuel poverty. As Labour heads into its conference this week, Labour leader Sir Keir Starmer has vowed to turn the UK into a green “superpower” before the end of the decade, which would permanently lower energy bills.
Announcing details of the plan to the Observer yesterday, Sir Keir vowed that before 2030, he would double the amount on onshore wind, triple solar energy, and over quadruple offshore wind power, which would result in all of the UK’s energy being generated by renewables.
He pledged to deliver a new era of economic growth by “re-industrialising” the UK to create a zero-carbon, self-sufficient electricity system.
Labour has claimed that its energy plan would save the country a total of £93billion over the rest of the decade, which would result in each household in the country saving £475 each year, according to ITV.
Before the party’s annual conference, Sir Keir added: “The British people are sick and tired of rocketing energy bills and our energy system being exposed to dictators.
“They want long-term solutions to cut bills for good. A central mission of my government will be to turn the UK into a clean energy superpower. This is a plan that will drive jobs, tackle the cost of living, and protect our homes for future generations by tackling the climate crisis.”
Labour unveiled its new growth plan just days after Chancellor Kwasi Kwarteng announced the Government’s Growth Plan to boost the UK’s growth through historic tax cuts funded by a massive increase in borrowing.
The Tory Government’s “mini-budget” may not have been well received by investors, as the pound has slumped to its lowest level against the dollar since decimalisation was introduced in 1971.
In early Asia trade, sterling fell by more than four percent to $1.0327, before regaining some ground to around $1.05.
Sir Keir has reportedly been working on the “green prosperity plan” for months alongside Ed Miliband, the shadow secretary of state for climate change.
Labour believes that this plan would help Britain create a self-sufficient power system run entirely by cheap, homegrown renewables and nuclear, by 2030, eventually moving on to turning the UK into a major energy exporter.
Commenting on Labour’s energy plan, Greenpeace UK’s head of politics Rebecca Newsom said: “The only way out of this mess is a moonshot mission to roll out a renewables-based energy system that can lower bills, cut emissions, create jobs and break our dependence on gas markets and fossil fuel autocrats. Labour seems to have understood that, the Conservatives don’t.”
Luke Murphy, associate director for energy and climate at the centre-left IPPR think tank said: “This is a welcome and bold commitment to expand clean power and renewables, and reduce our dependence on expensive and climate-destroying fossil fuels.”
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Labour’s plan to supercharge the rollout of renewables could go a long way in lowering bills for households, particularly as an analysis by the Carbon Brief found that the Government had granted a number of contracts to offshore wind farm producers to generate electricity at an average price of £48 per megawatt hour (MWh).
This is nine times cheaper than the £446/MWh current cost of running gas-fired power stations.
The UK has enormous potential to generate wind energy, which is evident as last month Hornsea 2, officially the world’s largest wind farm, became fully operational, generating power about 55 miles off the coast of Yorkshire.
The wind farm will now generate enough electricity to power about 1.3 million homes, enough to run a city the size of Manchester.
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