The UK government’s brand-new energy supply strategy has been delayed this week following reports that the Treasury resisted some of the costs involved. The plan was initially promised in a matter of days on the 9^th of March by Boris Johnson.

This was 21 days ago.

The plan would outline how the government seeks to tackle rising energy prices and reducing reliance on Russia. The date of release has been pushed back, with Downing Street stating that the energy strategy will not be released at any point this week.

Further included in the plan will be ways in which the UK can produce more energy itself, touching on future strategies for nuclear energy and renewable energy. UK homes will no doubt be mentioned too, as the government plans to make homes more energy efficient. North Sea Oil and Gas, although controversial, is seen by many to offer an immediate solution to the problems at hand. Boris Johnson will likely include the road map to how we will increase production from the North Sea resources.

The Treasury has raised concerns about the long-term cost implications of a specific target included in the plan. The goal of producing 25% of UK energy through nuclear sources by 2050 is causing quite the stir due to the high cost of building such installations. Sources close to the work have said that this is the primary area holding the strategy up.

However, there are further split opinions over other elements of the strategy too. Some ministers and MPs have pushed for the government to re-examine fracking as a potential solution, but this is unlikely to play a significant role due to the highly controversial nature of the practice. The government has placed a moratorium on fracking and this will remain in place until they deem that the science has changed and it can be deemed safe.

Some Cabinet ministers are also split on whether planning laws in England should be reviewed to make it easier to approve new onshore wind farms. The Business Secretary Kwasi Kwarteng and Levelling Up Minister Michael Gove are in favour of this move, but other Cabinet ministers remain opposed.

As some of the targets set out in the strategy are so far away, some being decades, the cost of these would fall out-with the current Spending Review Period. The commitment to longer-term funding at future spending reviews is one of the complications that has led to this delay.

It is also believed that the strategy will outline community benefits and incentives for renewable energy sources, including onshore wind. An idea being floated by ministers is to make energy bills cheaper depending on how close people live to an onshore wind farm.

Customer Billing – Will I Be Affected?    

As already mentioned, energy costs are spiralling out of control – and the price rises are affecting all of us. For UK energy customers it is difficult to say how your bills will be affected due to the serious volatility in the energy markets. It is important to remember that energy prices as a whole are rising, and this will be passed onto consumers through energy bills, making it something to keep a close eye on.     

Different suppliers will feel the pinch in different ways so it is crucial to be aware of the current situation your energy supplier finds themselves in. It is possible to view up to date supplier profiles with any recent changes for all of the energy suppliers in the UK, here.    

At a time where bills look set to rise due to market volatility, it is also a good idea to ensure that you are not being overcharged for any of your utilities. It can be a tricky task to navigate but there are free online tools to remove the hassle available.  

You can find a free online Gas Bill Calculator to see if you are being overcharged, here.    

You can find a free online Electricity Bill Calculator to see if you are being overcharged, here.    

Energy Solutions by Us, for You     

At a time of great uncertainty in global energy markets, it is easy to feel lost in it all.     

Keeping up to date with developing situations and the associated ramifications is a tricky and time-consuming job. It is also one that is not likely a priority for you and your business.   

So, what do you do?    

You partner with energy procurement experts to take the load off of your desk.    

Energy Solutions have been trusted brokers for countless businesses for over twenty years, which means we know how to navigate the energy markets during a time of uncertainty.    

Website: https://www.energybrokers.co.uk/  

Email: nick@energybrokers.co.uk  

Call Us: 0131 610 1688  

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