US EditionNet zero will not bring electricity prices down, says British Gas boss
- Chris O'Shea, CEO of British Gas, stated on May 12, 2025, that Britain's shift to renewable energy will not reduce electricity prices for households today or in the near future.
- This view arises amid the UK government's net zero emissions law targeting 2050 and the Clean Power 2030 Plan, which aims to decarbonize the economy despite conflicting claims on cost impacts.
- The UK leads globally in offshore wind capacity with about 20 percent of global share, but renewable contracts guarantee producers fixed strike prices that consumers ultimately fund, limiting bill reductions.
- O'Shea noted that 2024 renewable strike prices closely match gas prices , while emerging technologies cost up to three times more, so renewable power provides price stability but no price cut.
- The debate suggests that although clean power by 2030 could secure energy supply, it will not materially lower bills, challenging government promises to reduce household electricity costs by £300 annually.
10 Articles
10 Articles
Ed Miliband is 'not telling Britons the truth' on net zero, Angela Knight claims
Former Chief Executive of Energy UK, Angela Knight, has hit out at Energy Secretary Ed Miliband after his plans for net zero were dealt a fresh blow.British Gas boss Chris O'Shea has issued a stark warning that the UK's transition to renewable energy will not lead to lower electricity prices for consumers, directly contradicting Miliband's claims.FULL STORY HERE.
British Gas Boss Says Renewables Will Not Bring Electricity Prices Down
Britain’s shift to renewables will not reduce electricity prices, the boss of British Gas has said. Chris O’Shea, the chief executive of British Gas’s parent company, Centrica, wrote on the social media network LinkedIn on May 12 that the shift to renewable power “will not materially reduce UK electricity prices from current levels.” Centrica has one of Europe’s largest renewable energy portfolios and hopes to invest up to 4 billion pounds ($5.3…
Best and worst energy suppliers for complaints revealed
TENS of thousands of fed-up energy customers have lodged official complaints – and have been handed compensation Fresh figures from the Energy Ombudsman reveal that British Gas came out worst out of all energy companies in the UK. The firm received 48 complaints per 100,000 domestic customers between October and December 2024 – the worst rate in the country. With an estimated 7.5 million UK households on its books, that’s around 3,600 complaints…
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