Simon Cran-McGreehin

15. In summary: - Backing renewables has worked. - Pushing offshore target to 50GW boosts savings (incl. some onshore & solar) from £26bn/yr to £34bn/yr in a crisis – equivalent to £500 per household. - Pushing onshore wind & solar would add even more protection for households.

14. Finally, onshore wind & solar CfDs would save £1.4bn/yr - low because they’ve rarely been allowed to bid for CfDs, despite cheap costs. They’ve been allowed back in for AR4, but with a low cap. And Gov’t has no target for onshore - and a 70GW aim for solar but no clear plan.

.@beisgovuk #CfDs AR4 helps shield against future #GasCrisis – as does extension of 2030 #OffshoreWind target to 50GW. @ECIU_UK calculates £34bn/yr savings in 2030, under last winter’s price. Chart shows offshore. #Solar & #OnshoreWind could add more if given chance. Thread

.@hmtreasury is giving £billions to pay #bills to ease #CostOfLivingCrisis. Lasting solution is to support more households to improve #EnergyEfficiency and move off #FossilFuels and onto #NetZero tech: - Cuts #bills - Cuts #inflation eciu.net/analysis/repor…

But poorer households can struggle to make the initial investment, e.g. even just a few £100 for basic #insulation. That's why @beisgovuk support through #EnergyCompanyObligation and #BoilerUpgradeScheme is key - helping poorer households access lower running costs of #NetZero.

.@ONS data highlights role of #GasCrisis and #PetrolPriceHike in #CostOfLivingCrisis. Energy contributed 3.2% to #CPIInflation of 9.1% for 12mths to May-22 (rounding means don't sum): - Road fuels 0.9% - Gas 1.2% - Electricity 1.0%, driven by gas, cushioned by #LowCarbon Thread