Simon Cran-McGreehin

Head of Analysis at @ECIU_UK.
Fomerly @UKHouseofLords, @ImperialCollege, @Ofgem.
Physics PhD @UnivOfStAndrews.
#Munroist.
Views own. Retweet ≠ endorsement.

[Simon Cran-McGreehin @SimonCMcG]

15.
In summary:
- Backing renewables has worked.
- Pushing offshore target to 50GW boosts savings (incl. some onshore & solar) from £26bn/yr to £34bn/yr in a crisis – equivalent to £500 per household.
- Pushing onshore wind & solar would add even more protection for households.

[Simon Cran-McGreehin @SimonCMcG]

.@beisgovuk #CfDs AR4 helps shield against future #GasCrisis – as does extension of 2030 #OffshoreWind target to 50GW.

@ECIU_UK calculates £34bn/yr savings in 2030, under last winter’s price.

Chart shows offshore. #Solar & #OnshoreWind could add more if given chance.

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[Simon Cran-McGreehin @SimonCMcG]

14.
Finally, onshore wind & solar CfDs would save £1.4bn/yr - low because they’ve rarely been allowed to bid for CfDs, despite cheap costs.

They’ve been allowed back in for AR4, but with a low cap. And Gov’t has no target for onshore - and a 70GW aim for solar but no clear plan.

[Simon Cran-McGreehin @SimonCMcG]

.@hmtreasury is giving £billions to pay #bills to ease #CostOfLivingCrisis. Lasting solution is to support more households to improve #EnergyEfficiency and move off #FossilFuels and onto #NetZero tech:
- Cuts #bills
- Cuts #inflation

https://t.co/OFe1e0amAs

[Simon Cran-McGreehin @SimonCMcG]

.@ONS data highlights role of #GasCrisis and #PetrolPriceHike in #CostOfLivingCrisis.

Energy contributed 3.2% to #CPIInflation of 9.1% for 12mths to May-22 (rounding means don't sum):
- Road fuels 0.9%
- Gas 1.2%
- Electricity 1.0%, driven by gas, cushioned by #LowCarbon

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[ECIU @ECIU_UK]

🏡 💷 Revealed: how much #NetZero 'electric households' are saving on bills

"Rapid changes in #FossilFuel prices are causing this difference to grow... it's a constantly changing picture & it's only getting worse," ECIU's @SimonCMcG

@SeabrookClimate https://t.co/6iRNhf6unE

[Simon Cran-McGreehin @SimonCMcG]

But poorer households can struggle to make the initial investment, e.g. even just a few £100 for basic #insulation. That's why @beisgovuk support through #EnergyCompanyObligation and #BoilerUpgradeScheme is key - helping poorer households access lower running costs of #NetZero.