Recorded at the Battle of Ideas festival 2024 on Sunday 20 October at Church House, Westminster.

ORIGINAL INTRODUCTION

The Labour government has set out an ambitious goal to decarbonise the UK’s electricity supply by 2030. Labour’s plan includes prioritising renewable energy sources like wind and solar power while reducing the nation’s dependence on fossil fuels. In line with this, the government has indicated it may halt new licences for oil and gas exploration in the North Sea. The government also announced the creation of Great British Energy, a publicly funded body to invest in renewable energy. The energy secretary, Ed Miliband, claims these measures will make the UK’s electricity supply greener, more secure and cheaper.

However, there are plenty of commentators warning about the feasibility and impact of this strategy. Renewable energy, while crucial to achieving decarbonisation, is notoriously unpredictable. The sun doesn’t always shine, and the wind doesn’t always blow, leading to concerns about the reliability of the energy supply – unless renewables are backed up in some way, whether by gas-powered plants, rising imports or expensive storage. Far from being cheaper than fossil fuels, critics note, renewable energy continues to need substantial subsidies, which are even more glaring as the price of gas has returned to more normal levels following the energy-price crisis of recent years.

Moreover, most of the UK’s nuclear power stations, which have long provided a steady and reliable source of low-carbon electricity, are set to close between 2026 and 2030. Replacements for them are still a long way off, with Hinkley Point C years behind target and Sizewell C still tied up in paperwork and court cases. The previous government’s plan to produce 24 gigawatts (GW) of power from nuclear sources by 2050 – up from 6 GW now – seems increasingly over-optimistic. Indeed, Labour already seems to be getting cold feet on a proposed nuclear-power plant in north Wales.

Will Labour’s energy strategy lead to a cheaper, more secure electricity supply, as it claims? Or are we on the brink of an energy crisis, with higher costs and increased vulnerability to blackouts? Are higher bills a price worth paying to tackle climate change or, when global emissions are still climbing, a pointless sacrifice of British jobs and living standards?

SPEAKERS

Lord David Frost

Prof Dr Michaela Kendall

James Woudhuysen

CHAIR