London, (Parliament Politics Magazine) – Investing in renewables is the answer to the gas and cost of living crisis in the long-term. Not only will this reduce energy bills in the long-run but it is needed to limit global temperature increases to 1.5C.
The cost of living crisis has hit people hard. According to the ONS, average energy bills are expected to rise by nearly £1,100 in some areas. These rises hit some harder than others – Those on benefits, who rent, and in lower paid jobs are being hit the hardest.
To avoid irreversible climate change which comes with unpredictable and catastrophic weather events we must limit global temperature rise to 1.5C. As a result, parrots of the globe would become uninhabitable and mass immigration and population displacement would take place, with the ensuing political instability that this would bring.
Time is running out. We have 28 years for the world to get to net zero, but we need the right political will to achieve this goal.
The current cost of living crisis only amplifies the need to push for Net Zero. Cost of living is soaring under the Conservatives and its only set to increase in October with another 54% increase in the energy price cap. Worryingly, bills are set to rise to nearly £2,000, an average increase of £700 for a household. This will force many people to choose between heating and eating.
This is in part because of the UK’s over reliance on volatile international gas markets, something which is exasperated by the Conservative’s failure to invest in renewable energy. If all the projects in the pipeline now for the next five years had already been delivered average household energy prices would be much lower.
Yet, the Government continues to back the oil and gas sector.
In the short term the Conservatives must introduce a windfall tax on the super profits of oil and gas giants. This will free up funding to spend on targeted support for those in need.
In addition to this, there must be a retro-fit programme with an emphasis on improving the energy efficiency of housing. Short-sighted thinking from the Conservatives resulted in them scrapping the zero carbon homes standard in 2016 which has slapped an extra £400 onto people’s bills.
Clearly, more efficient housing would bring down energy bills because households would use less energy. Our housing stock in this country is unfortunately one of the worst in Europe. Make no mistake, this is the fault of the Conservatives. New homes must therefore meet certain energy standards, avoiding households having to pay for retrofitting years down the line.
We also need an end date for fossil fuel extraction in the UK, not new licenses for drilling like in Cumbria and Horse Hill. Setting an end date would focus minds and force progress.
The Conservatives are now delaying climate action which is increasingly becoming the new climate denial. As Liberal Democrats we have a clear plan to cut most emissions in the next ten years and to get to Net Zero by the mid 2040s.
The Energy Bill in the Queen’s Speech must set out a detailed and clear commitment to renewables rather than continuing to subsidise oil and gas. With renewables now the cheapest electricity, a fast and permanent shift to renewables would help households to get on top of soaring energy costs.
Despite warm words the government is failing to deliver. The gas crisis is savaging household budgets. Yet, they are using this as an opportunity to turn back to fossil fuels, ignoring the cheaper and much more effective option – renewables.