Why Does the UK Have the Highest Electricity Costs in The World?
Shouldn’t prices fall as cheap renewable energy floods the grid?
Recently, the UK shut down its last remaining coal burning plant in Ratcliffe-on-Soar, officially ending our 142 year relationship with one of the dirtiest fuels known to man.
The power cuts forecasted by doomsayers didn’t come, but nor did the reductions in power costs that perhaps you and I would have anticipated. While coal is a relatively cheap power source, newer and greener sources of power such as wind and solar are supposed to be even cheaper, aren’t they?
In fact, on the very same day that news of the closure of the power plant was filling my Twitter feed, the following chart was also doing the rounds, allowing those same doomsayers to gloat over the apparent link between coal and cheap power.
There’s absolutely no denying that the UK currently has the highest industrial energy prices in the world, so it raises a perfectly legitimate question:
How on earth are we managing to consistently increase our energy prices the greener we go, while everyone else…
