Rise in the domestic energy price cap is a result of Net Zero dogma, says IEA Analyst

Responding to the energy price cap rise, Andy Mayer, Energy Analyst at free market think tank the Institute of Economic Affairs, said:

“The Government want us all to pay more for energy.

“The 54 per cent rise in the domestic energy price cap from April is a result of Net Zero dogma – prioritising decarbonisation at any price, including undermining future investment in the most affordable source of heat and power, domestic gas.

“Net Zero requires us to ‘leave it in the ground’ while supporting renewables, nuclear and electrification. But, this low carbon transition will still require gas for decades, which will come instead from increasing reliance on imports. We will be paying Russian taxes on gas while losing revenues at home that could fund low carbon research.

“Tinkering with price controls, loans and clawback schemes will not change this, just delay and extend the pain, while undermining the central purpose of high price signals, to invest in better alternatives. These include simplifying the regulation of the North Sea, unblocking fracking, and developing strategic gas reserves.

“Without these measures it is self-evident that the Government is perfectly content to make us all poorer and colder.”

ENDSNotes editorsContact: Annabel Denham, Director of Communications, 07540 770 774

IEA spokespeople are available for interview and further comment.

1 thought on “Rise in the domestic energy price cap is a result of Net Zero dogma, says IEA Analyst”

  1. Posted 03/02/2022 at 16:49 | Permalink

    seriously? even I know the most recent upward trends is totally unique to the post-covid world…

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