
“The input to renewable energy - sun and wind - is free forever, while fossil fuel prices are set by cartels or the whim of dictators.”
Tessa Khan
Key points from the briefing
Fossil fuels are the root cause of energy price shocks. Around half of UK recessions since 1970 have been triggered by fossil fuel price volatility - most recently forcing the Government to spend £64 billion, more than the defence budget.
Millions of people are already in energy distress. Over 12 million UK households are struggling to pay their energy bills - a direct consequence of our dependence on gas.
Renewables offer permanent price stability. Sun and wind are free forever, unlike fossil fuels whose prices are set by geopolitics, cartels and conflict.
Clean energy is now dramatically cheaper than before. In the last decade, offshore wind costs have fallen by over 50%, solar by over 70%, and battery storage by over 80%.
Electrification is far more efficient than using fossil fuels. The fossil fuel system wastes around two-thirds of the energy it consumes; clean electricity avoids this loss entirely.
Upfront costs are a political choice, not a barrier. Upgrading the grid and using heat pumps and insulation are merely growing pains - and delay only increases total costs.
Insulating homes is one of the fastest ways to cut bills. Yet the UK still has some of the coldest, most heat-leaking housing stock in Europe.
The jobs transition in energy is already happening. North Sea oil and gas employment has halved, even with new licences..
The UK has successfully upgraded its energys system before. It did so in a decade, changing its infrastructure to use North Sea gas instead of gas from coal.
The prize from electrification is enormous. A renewable, electrified system delivers lower bills, energy security, good jobs and a just transition for households and workers alike.

