Why renewables aren’t the only source of power needed to solve Britain’s energy crisis in 2023 WorldAhead
was defined by the cost of energy in 2022. Prices soared as demand rebounded after the pandemic, then spiked viciously in the wake of Russia’s invasion of Ukraine. During their contest to lead the Conservative Party, Liz Truss and Rishi Sunak tussled over the level of support they would lend Brits with their energy bills, so that no one faced a choice between “heating or eating”.
The location of a new nuclear-power station is due to be chosen by 2024, but rising interest rates will make such projects pricier. The cost of capital already makes up over half of the cost of Hinkley Point C, a nuclear plant being built in Somerset. That cost is set to rise. Renewables are not the only piece of the energy-supply puzzle that will expand. New oil- and gasfields, such as Jackdaw, off the Scottish coast, will be under construction all year. Drilling is due to start on Jackdaw’s first wells in the second half of 2023. The Rough gas-storage facility, off England’s east coast, will be back in action, having been retired in 2017, storing enough natural gas for Britain to weather weeks of supply constraints.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How Ofgem ranked energy suppliers for helping vulnerable customers, from British Gas to BulbAll 17 suppliers under review were told they need to improve, with Good Energy, Outfox, So Energy, Tru Energy and Utilita found to have 'severe weaknesses'
Read more »
International Emmy Awards 2022: British shows including Sex Education and Vigil triumph at ceremonyThe International Emmy Awards ceremony follows the main Emmys in September, at which Succession was crowned the night's big winner.
Read more »
Dad 'in disbelief' after British Gas bill skyrockets from £250 to £1,320 a monthAndy Hirst worries there could be thousands more customers with the energy supplier who find themselves in the same position.
Read more »
Images show 'never changing face of British chip shops'Photographer capturing weekly images of her favourite fish and chip shop.
Read more »
John Cantlie: Ten years since IS kidnap of British journalist in SyriaThe fate of photographer John Cantlie, kidnapped by the jihadist group in 2012, remains unknown.
Read more »
'We respect the public's right to protest': British Cycling addresses Extinction Rebellion protest over Shell deal'We respect the public's right to protest': British Cycling addresses Extinction Rebellion's National Cycling Centre protest over governing body's Shell partnership cycling
Read more »