How soaring fossil fuel costs are driving the rise in UK power prices

Michael Holder
clock • 4 min read
Peterhead gas power station in Scotland
Image:

Peterhead gas power station in Scotland

Skyrocketing global fossil gas costs underscore urgent need to ramp up renewables capacity in UK, according to Ember

The UK energy system is currently reeling from a perfect storm of market forces that has caused energy prices to soar, with major ramifications for domestic consumer bills, energy suppliers, beverage manufacturers,...

To continue reading this article...

Join BusinessGreen

  • Enjoy exclusive news, insights and analysis from Europe’s leading source of information on the green economy and business.
  • Make smart, responsible business decisions with an eye on the latest regulatory and tech development
  • Tap into our extensive archive of exclusive articles, news, analysis and guide
  • Access to our new BusinessGreen intelligence service, providing you with
  • > Exclusive in-depth case studies
  • > Policy briefings, white papers and reports on market trends that are shaping the direction of the net zero transition
  • Our overnight briefing, expertly curated help you run a competitive and sustainable business
  • Online and interactive meetings with BusinessGreen’s editors to discuss the crucial stories and trends from the past month

Choose from 3 paid membership levels or start a 7-day no strings trial.

Join nowTry 7 day trial

 

Already a BusinessGreen member?

Login

More on Energy

Study: Renewables to play 'much larger role' in UK energy security than new oil and gas

Study: Renewables to play 'much larger role' in UK energy security than new oil and gas

Analysis claims the UK's growing clean energy industry - bolstered by the roll out of EVs, heat pumps, and home insulation - is proving far more effective at reducing reliance on energy imports than North Sea drilling licences

Michael Holder
clock 07 June 2024 • 4 min read
Ørsted debuts biodiversity measurement tool for renewables projects

Ørsted debuts biodiversity measurement tool for renewables projects

Danish energy giant seeks wider industry feedback on efforts to develop new global standard for assessing habitats and wildlife impacts of infrastructure projects

Michael Holder
clock 07 June 2024 • 3 min read
Study: UK on track to overshoot 2030 offshore wind goal by 18 years

Study: UK on track to overshoot 2030 offshore wind goal by 18 years

Domestic supply chain weaknesses singled out as key reason for slower than needed offshore wind installation rates

Cecilia Keating
clock 07 June 2024 • 4 min read