The Rest Is Money 164. The Great British Energy Crisis
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Apr 27, 2025 Jonathan Brearley, CEO of OFGEM and former climate strategy leader, dives into the UK’s energy crisis. He discusses why energy costs are soaring and whether the wealthy should pay more. The conversation highlights the push for renewable energy, pricing strategies, and the crucial role of nuclear power. Brearley also addresses the impact on small businesses and emphasizes the need for technological innovation to tackle affordability issues. The focus on energy self-sufficiency and customer support systems provides a glimpse into a resilient energy future.
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Gas Dependency Drives High Costs
- UK's energy prices are high because of heavy reliance on international gas prices.
- Gas price fluctuations directly affect household energy bills here.
Renewables Beat Gas on Cost
- Renewable energy costs have fallen significantly, making them cheaper than gas.
- Renewables improve cost, security, and stability of the energy system.
Renewables Lower Overall Costs
- Renewables are more cost-efficient than gas, so expanding them lowers energy costs.
- Without renewables, the UK would depend even more on volatile international gas prices.