The UK’s investment in wind power has led to far greater financial benefits for consumers than if the country had stuck with fossil fuels, according to a new study.
Researchers at University College London have conducted a study highlighting the longer-term financial benefits wind power has brought to UK consumers, compared with a scenario where the country kept investing in gas instead.
The results show that, from 2010 to 2023, wind power delivered a net benefit of £104.3bn to UK consumers – £14.2bn from lower electricity prices and £133.3bn from reduced natural gas prices, partially offset by £43.2bn in government-backed price guarantees.
UK wind energy production has escalated significantly since 2010. Then, more than 75% of electricity was generated from fossil fuels. Today, coal use has ceased and wind, predominately offshore, is the largest source of power at 30% – more than natural gas at 26%.
If the UK had remained committed to fossil fuels and without the additional wind energy...