I am amazed at the lack of concern over the future of UK electricity supply following the reality check caused by the Ukraine conflict. The hike in electricity prices was predictable, as with gas having a regional market the only alternative option for the UK would have been coal for generating electricity. Not only did the UK retire its coal portfolio prematurely, unlike Germany, but the state also failed to increase its gas storage and deliberately prevented the hydraulic fracturing of indigenous gas through regulation.
Political ineptitude is not new – the mid-1970s shutdown of a nuclear option prevented any future indigenous capability. Only after 2008 was this intent reversed with a devastating failure to promote an intended scale of a necessary nuclear portfolio. We are left with a deliberate policy of conserving supply by price escalation.
Expensive renewable generation can only be a sticking...