UK ‘must build equivalent of worlds biggest wind farm every 10 weeks for next 20 years’ to hit net zero targets
Independent
Harry Cockburn
1 December 2021Under existing framework, 90 per cent of all electricity generation in Britain will be on a government-backed contract, stifling competition, warns Tony Blair Institute.
The UK must build the equivalent of a 1.2-gigawatt offshore wind farm – the largest ever built – every 10 weeks for the next 20 years in order to hit its legally binding net-zero targets, a report from the Tony Blair Institute claims.
The report highlights how the current energy crisis, which has resulted in numerous small energy providers going bust, has exposed “profound problems of design and regulation in the retail and wholesale energy markets”, and says without major adaptation, the energy market is heading towards a greater level of centralisation and higher costs for consumers.
It warns that without an overhaul, up to 90 per cent of all electricity generation in the UK will be on a government-backed contract.
As a result of prolonged government support, the report’s authors warn that by 2035 energy providers will have “limited incentives” to respond to supply and demand.
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