Annual Renewables Auction to be held

Annual Renewables Auction to be held background

Auctions for Renewable Energy to be held every year in bid to cut UK Carbon emissions by 2050.

Energy Secretary Kwasi Kwarteng has announced that renewable energy is quickly becoming the best way to shield the UK from rising gas prices. It will bring certainty to firms planning to invest in Solar PV, and those looking to invest into windpower. The Renewables Industry has expressed positive opinion on the news, and hopes this will help reduce the pressure many companies face finacially when addressing the issue of moving over to Green Energy. 

"We are hitting the accelerator on domestic electricity production to boost energy security, attract private investment and create jobs in our industrial heartlands" - Energy Secretary Kwasi Kwarteng 

The renewable energy industry is confident that the increase in renewable sources will bring the costs of electricity in the UK down and, with growing energy technologies, eventually do so cheaper than current practices. 

Even with this progress, MPs are raising concerns that this aggressive race towards renewable energy is adding to energy bills. Known as the Net Zero Scrutiny Group, they believe that the UK should focus on producing its energy through fracking, an environmentally damaging process. The belief is that producing and providing higher amounts of energy now will help reduce the costs many consumers are facing currently. However, costs are set by an international market, and therefore this approach will not affect the consumer prices as much as they claim. 

Further progress to a Renewable UK is being made every day, and this new support from the government will only improve this developement.