Energy U Turn?

At present, natural gas is selling for about a dozen times the historical average price. Actual prices vary by the hour but have been about 500 pence a therm recently. The historical price is about 40 pence a therm.

Oil is also expensive and close to the record set some years ago. Oil also varies continually but Brent crude is about $130 currently as compared to the all time record of $140 set years ago.

This seems a very odd time to be suggesting that we become MORE reliant on these fuels. Increasing oil and gas production in the North sea will increase security of supply but do little to moderate the price. Oil and gas prices are set by the balance between supply and demand, and our existing or proposed domestic production has very little influence on prices.

Electricity from wind farms is a lot cheaper than that from gas, and is produced within our territory rather than being imported. We should therefore be using wind power, and solar to the greatest possible extent whenever the wind blows or the sun shines. Expensive natural gas will be unavoidable at times of dark and calm weather. But surely we should not be burning hugely expensive gas in windy weather.

Electricity from burning gas is currently costing at least 40 pence a unit, several times the cost of from new wind farms. 

At present, natural gas is selling for about a dozen times the historical average price. Actual prices vary by the hour but have been about 500 pence a therm recently. The historical price is about 40 pence a therm.

Oil is also expensive and close to the record set some years ago. Oil also varies continually but Brent crude is about $130 currently as compared to the all time record of $140 set years ago.

This seems a very odd time to be suggesting that we become MORE reliant on these fuels. Increasing oil and gas production in the North sea will increase security of supply but do little to moderate the price. Oil and gas prices are set by the balance between supply and demand, and our existing or proposed domestic production has very little influence on prices.

Electricity from wind farms is a lot cheaper than that from gas, and is produced within our territory rather than being imported. We should therefore be using wind power, and solar to the greatest possible extent whenever the wind blows or the sun shines. Expensive natural gas will be unavoidable at times of dark and calm weather. But surely we should not be burning hugely expensive gas in windy weather.

Electricity from burning gas is currently costing at least 40 pence a unit, several times the cost of from new wind farms.