Ahmed Ibrahim’s Post

all in UK energy costs an early election dividing line: UK regulator Ofgem announced that from 1-Jul energy the average energy bill for a typical household will fall 7% to £1,568, reflecting the fall in wholesale energy costs. Announcement comes as Conservative leader Sunak seeks to claim credit and make falling gas and electricity bills an early dividing line in the election (London Times). The Tories also want to emphasize the difference between Labour's net zero policies and the impact on energy bills after Sunak watered down a series of green policies last year to ease household costs in the short-term. The Telegraph reported on Conservative election plans to make it easier for consumers to compare energy prices, though Labour argue it will not bring down bills. Labour want to make climate change a key focus of the election (Guardian). Starmer has pledged to create a new publicly owned energy company to invest in renewables and double the amount spent on home insulation. The Conservatives have argued it will lead to extra costs for households and might result in tax rises.

What should we expect from the Labour Party on Energy when it enters Government? Earlier this week I met Dr Alan Whitehead, shadow spokesperson for Energy Security and due to lead Labour's energy strategy after the election, with colleagues from the University of Oxford. Alan is well informed on energy issues, and we agree about the need to act fast to protect fuel-poor and vulnerable households this winter. What did the meeting tell us about Labour’s plans on energy after the election? Three take-home messages: 1. They remain open to major reform of current ‘Contracts for Difference’ that determine the wholesale price of renewable electricity (which trickles through to Ofgem price ‘caps’ and household energy bills). 2. They are acutely aware of the suffering to vulnerable households caused by high energy prices and bills, and Alan is sufficiently motivated to take action to help. 3. They are listening to the energy research community and willing to digest strong evidence – even relating to complex technical arrangements that are beyond the reach of most politicians, and difficult to summarise in a sound bite. You can read more here:

Further energy industry profits are announced this week. Taxing these profits fairly could ensure new ministers are able to ensure vulnerable households are protected with a more comprehensive warm homes discount & action to bring down energy debt. https://lnkd.in/e5zDrSnU

The UK Chancellor wants to scrap heating subsidies for most pensioners, while still implicitly subsidising gas. This needs to change if we want to decarbonise heating faster. 17% of electricity bills are "policy costs" (mostly climate-related) versus just 6% of gas bills. In addition, electricity generation is taxed under an emissions trading scheme, while domestic gas use is not. At current prices, this would make gas ~£80 more expensive for the average household. Home electrification investments can be costly, especially if they don't reliably decrease energy bills. Rebalancing the clean energy taxes on electricity and gas would help to incentivise these investments, alongside existing government subsidies and specialised tariffs offered by firms like Octopus Energy. One argument against taxing gas is the higher impact on people with lower incomes. Tax proceeds could be redistributed to those who need it most, while still changing energy use preferences and reducing emissions. In a recent paper, the Grantham Research Institute on Climate Change & the Environment found that redistribution had little impact on the effectiveness of expanding the ETS to include gas. Aside from the climate benefits, taxing gas also has an upside for the Chancellor. It could help her find the funds to keep pensioners warm in the winter. Read more in my column and subscribe for analysis on energy and ESG issues around the world: https://lnkd.in/eBYy8kzv #Heating #Gas #UK #EnergyPolicy

It has already become a common phrase on the #generalelection campaign trail: Great British Energy. Labour’s plan for a publicly owned, #Scottish-based national energy company is front and center of the party’s offer to voters ahead of the surprise July 4 election. Setting it up is one of leader Keir Starmer’s six “first step” priorities for the new government polls suggest is on the cusp of taking office. The goal, Starmer said in one early campaign speech, is to harness “the opportunity of clean #British power, [make] us energy independent, [remove] Putin’s boot from our throat, and [cut] bills in your home — for good.” But amid all that ambition, there are plenty of unanswered questions. While there is enthusiasm from some leading industry figures — GB Energy “could help drive innovation and investment where the private sector can’t on its own,” Octopus Energy’s Greg Jackson told POLITICO — others want much more clarity. “We understand the overall aims of GB Energy,” said Tom Glover, of power company RWE. “But we’re not really clear what its first priorities are and where its focus will be.” With Labour potentially just five weeks away from government, industry bosses and voters alike want the party to fill in the gaps. First steps Conversations with #Labour officials, advisers and industry figures familiar with the party’s thinking reveal plans for a two-speed approach for GB Energy. Its £8.3 billion capitalization will be split into two parts.  An initial £3.3 billion is for the so-called Local Power Plan — essentially, a funding pot that #localauthorities, #metromayors and #communitygroups can dip into for grants and loans towards small-scale clean energy projects, such as #solarpanels on council houses, schools or hospitals. This local cash should be flowing as early as the new year, two people familiar with the party’s plans said. “You can start dispersing grants and loans to local authorities immediately,” said the first person. “They will be writing to every local authority and every mayor as soon as possible asking: ‘Do you want to invest in #cleanenergy projects?’” The hope is that, if projects are up and running quickly, the party would soon be able to point to “GB Energy-backed” schemes lowering bills for local communities. If Labour wants this investment to fall under the GB Energy brand, the company would first need to be incorporated. That is planned through one of Labour's first pieces of #legislation, the Energy Independence Bill — although the precise timescale remains unclear. A board and interim boss could feasibly be in place by the fall, the second person said, and could draw on expertise within the existing U.K. Infrastructure Bank. One key advocate of the project is Scottish Labour leader Anas Sarwar. He told POLITICO he wanted to see GB Energy up and running quickly.

⚡The UK's energy market is in need of reform to tackle the cost-of-living crisis. 👁️🗨️Advice Direct Scotland is witnessing a surge in requests for help with energy bills. An opt-out social energy tariff could help, but only the UK Government has the authority to make it happen. 💬We're urging the Chancellor to consider this in the upcoming Budget. 🔗https://lnkd.in/eZe2h9px #EnergyReform #CostOfLivingCrisis #UKGovernment

Big changes in the UK as the country has woken up to a landslide victory by The Labour Party in the general election. There'll be plenty of discussion about this today no doubt, but good to see Greg Jackson from Octopus Energy sharing his views on BBC News just now. He's positive that a large Labour majority will help with the delivery of new renewable energy infrastructure. He said: "One of Labour's five missions was about green growth. It's really important that voters backed this idea that we can deliver cheaper, greener energy by investing in it, so I think a stable business environment, a stable political environment, will help release capital in our sector." He added that a key priority for Labour would be to change the planning system to make it easier to build renewables and other infrastructure. "What Labour needs to do now is hit the ground running with things like planning reform so we can build this infrastructure. There's hundreds of billions of pounds ready to invest in the UK. We just need to do it," he said. Jackson added that The Conservative Party's attempts to turn net zero policies into a culture war has failed. We reflected on what a Labour win would mean for the wind industry in the UK a few weeks ago. Click here: https://lnkd.in/e39BSDGN #onshorewind #offshorewind #renewableenergy #investment A Word About Wind | Energy Storage Report | Tamarindo

Australian Government Doubles Energy Bill Relief, Slashing Costs for Over 10 Million Households The Albanese Labor Government will offer a $300 energy bill rebate to every household and additional relief to small businesses as part of the Budget’s cost of living support. Just as every taxpayer is receiving a tax cut, every household will now get energy bill relief under the Albanese Government. Starting July 1, 2024, all households will automatically receive a $300 credit on their electricity bills, and about one million small businesses will get $325 off their bills over 2024-25. Based on 2024-25 standing offer estimates, the Commonwealth’s energy bill relief will lower household bills by an average of 17% […] Read the full story here: https://lnkd.in/dubZySC3 #solarenergy #alternativeenergy #solarpv #pvsolar #photovoltaic #cleanenergy #cleantech #climatechange #middleeast #africa #india #asiapacific #asia #australia #budget #renewableenergy #renewableenergy #solarenergy

#Affordability issues are playing a big role in political debates around the world and that includes the cost of energy bills for consumers. Britain's energy regulator announced decrease in household bills today, putting a spotlight on the issue in the #UKelection2024. The #Conservatives immediately seized on the price drop, arguing it was further evidence that Prime Minister Rishi Sunak was turning around the UK economy, even if critics insist it is more down to market forces than government policy amid on ongoing cost-of-living crunch. Should it win power, #Labour has pledged to create a publicly-owned clean energy company, Great British Energy, under a plan it claims would further reduce average energy bills. Read this story and more on the #energytransition from Kathari.News #UKenergybills #Britishelection #utilitiesuk #CostofLiving #affordableenergyUK #inflationUK #energyregulation #KathariNews

After the recent election, it's more important than ever to keep the conversation going about the living crisis and rising home bills. “According to British Gas, the average 3-bedroom home currently pays yearly energy bills of £1,640.02, due to the Ofgem set price cap, with this figure set to rise later in the year. Labour's flagship energy policy aims to launch GB Energy, a state-funded company that promises to save every household £300 on their power bills. New Prime Minister Keir Starmer highlighted GB Energy in his first speech as leader, emphasizing the potential for clean British power and lower energy bills.” At Carbon Neutral Homes, we haven’t waited for a new government to start making a difference. Our team is dedicated to building a greener future for Cornwall today. By choosing a home from Carbon Neutral Homes, you can save £1,300+ a year on your energy bills! Want to SAVE MONEY on your bills? Simply ask us at hello@carbonneutralhomes.co.uk Shaun Stapleton Sean McNeill #netzero #newbuilds #propertydevelopment #estateagents #cornwall #truro #livingcrisis #election #fuelpoverty