A new study reports that the UK will miss renewable energy targets which could mean an increase in gas and electricity bills.
A study by the Renewable Energy Association (REA) found that if the UK misses its renewable energy targets it could mean billions of pounds are added to gas and electricity bills because the UK would have to rely more heavily on imported gas.
It’s not just domestic energy bills which would be affected – business electricity prices and gas bills would also increase as a result of more imported gas.
The European average for renewable energy generation is 12% while only 3% of the UK’s energy comes from sources of renewable energy at the moment. The UK has a target of generating 15% of its energy from green sources by 2020 but many argue that there’s no chance of the government achieving this target.
An international meeting on renewables takes place in London this week. The Clean Energy Ministerial begins on Wednesday and will be hosted by David Cameron. Energy ministers from a number of countries around the world will discuss how they can co-operate to develop low carbon emission technology and policy.
However, if the UK doesn’t achieve its target of 15% renewables by 2020 then it will have to increase the amount of gas it imports. Increasingly imported gas will be a larger part of UK energy bills if the renewable energy target is not met. The government has also said that increasing the amount of renewable energy in the country will increase the number of jobs available so not meeting green target will also hit green jobs targets.
The minister of state for energy and climate change, Greg Barker, said “Renewable energy not only provides us with clean and secure energy that cuts our reliance on imported fossil fuels, it generates billions of pounds of investment and hundreds and thousands of jobs and is a key growth sector for the UK economy. We are determined to seize the momentum and secure maximum benefit for the UK”.