Commodities
Home›Commodities›Energy›UK report urges abandoning net-zero target to cut hous…
UK report urges abandoning net-zero target to cut household energy costs
The analysis modeled savings of £320 billion from 2030 to 2050, but estimated an increase of 524 million tonnes of additional power-sector carbon emissions.
A British report argues that households could save more than £500 a year if the UK abandoned its statutory 2050 net-zero target after 2029, amid ongoing pressure from high energy bills. OilPrice notes the report, known as Onward’s Firm Foundations, frames the savings as coming from a reworked electricity system that looks cheaper on paper.
Under its Alternative Policy Pathway, the report says Britain would shift toward greater reliance on gas and nuclear, remove the UK carbon price from electricity generation, and reduce spending tied to renewables, the grid, and balancing. The analysis also assumes fewer cars and homes electrify, and it then translates the overall power-system changes into a household-scale figure.
OilPrice reports the authors estimate cumulative power-system savings of £320 billion between 2030 and 2050, but also estimate 524 million tonnes of additional power-sector carbon emissions. The outlet adds that it views some critiques of current energy policy as useful, while questioning whether the report’s conclusion logically follows from its diagnosis.