Cheaper renewable electricity will require state intervention

Fix energy prices until 30th September 2017

Looking to switch your business energy supplier? Click here

Use our OFGEM accredited comparison tool to compare the whole market today.

Increasing the amount of low-cost renewable energy available to British households will require state intervention, it has been claimed.

Speaking to the Times, energy secretary Ed Miliband said that the government needs to be more assertive if Britain is to achieve its target of slashing carbon emissions by 80 per cent by 2050.

"The market on its own is not going to ensure that we make the transition to low carbon," Mr Miliband told the news provider.

"It's not necessarily going to ensure the right diversity in our energy mix."

He added that the time of leaving the development of the energy sector to market forces was over and that a long-term framework was needed to ensure the successful overhaul of the National Grid in the coming years.

Vincent de Rivaz, chief executive of the UK subsidiary of EDF, told the Financial Times that a new generation of nuclear power stations would not be built unless the government provided financial support.

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.

Found this page interesting?

Help spread the word and share this page with your friends and family on your social networks.