• Investing
  • Stock
  • Economy
  • Editor’s Pick
Portfolio Performance Today
Stock

UK climate targets at risk as high electricity prices stall progress, warn advisers

by June 25, 2025
by June 25, 2025

To achieve its ambitious climate targets, Britain needs to significantly lower its electricity prices, according to a recent progress report from the nation’s climate advisers. 

This strategic move is deemed crucial for accelerating the widespread adoption of key emission-curbing technologies, particularly electric vehicles and heat pumps. 

High electricity prices remain a barrier

High electricity costs act as a substantial barrier to consumers and businesses investing in these more sustainable alternatives, Reuters said, quoting from the progress report.

Currently, the upfront cost and perceived operational expenses of technologies like EVs and heat pumps can deter potential buyers. 

By making electricity more affordable, the British government can effectively reduce the long-term running costs of these devices, making them more financially attractive and accessible to a broader population. 

This affordability is expected to spur a rapid increase in their uptake, contributing significantly to decarbonisation efforts across the transport and heating sectors.

Furthermore, the report implicitly suggests that lower electricity prices would not only incentivise individual adoption but also encourage industries to transition towards cleaner energy sources and processes. 

Recommendations for price reduction

Additionally, achieving net-zero emissions by 2050 necessitates a significant shift in Britain’s energy landscape, particularly the electrification of heating and transport, sectors currently reliant on fossil fuels. 

This transition is crucial for decarbonisation, yet it is hampered by Britain’s high electricity costs. 

Lowering these prices is paramount to accelerate the adoption of technologies like electric vehicles and heat pumps. 

More affordable electricity will reduce operational expenses, making sustainable alternatives financially attractive and accessible to a wider population, ultimately spurring their uptake and contributing to climate targets.

“By far the most important recommendation we have for the government is to reduce the cost of electricity both for households and businesses,” Piers Forster, interim chair of the Committee on Climate Change said, in a briefing on the annual report.

If we want the country to benefit from the transition to electrification, we have to see it reflected in the utility bills.

Progress and challenges in emission control

Ofgem, Britain’s energy regulator, has lowered the cap on domestic energy prices by 7% starting in July. 

Despite this reduction, prices are still approximately 50% higher than they were in the summer of 2021, prior to Russia’s invasion of Ukraine, which caused natural gas prices to surge and triggered an energy crisis across Europe.

The Committee publishes annual reports detailing the government’s progress on climate targets.

Britain has committed to a 68% reduction in emissions between 1990 and 2030, as pledged under the Paris climate agreement. This target can be achieved with further action, according to the report.

The report also included 43 priority recommendations. 

These recommendations focused on several key areas: reducing energy costs, accelerating grid connections for new clean power projects, implementing regulations to mandate low-carbon heating systems in new homes, and releasing a net-zero skills action plan.

Meanwhile, due to an increase in renewable power capacity and the closure of coal-fired power plants, Britain’s emissions have already decreased by approximately 54% since 1990.

The post UK climate targets at risk as high electricity prices stall progress, warn advisers appeared first on Invezz

0 comment
0
FacebookTwitterPinterestEmail

previous post
Europe markets open: stocks up; investors digest Fed, monitor NATO Summit
next post
Top 4 quantum computing stocks to buy today

Related Posts

Okta stock price forecast after earnings: will the...

August 27, 2025

Morning brief: Yuan soars to strongest since Nov;...

August 27, 2025

Why are cocoa prices falling sharply as market...

August 27, 2025

Trump memecoin turns bullish as Canary Capital files...

August 27, 2025

An inflation ambush: Australia’s 2.8% price spike shatters...

August 27, 2025

China’s exports to Africa surge 25% in 2025...

August 27, 2025

Europe markets open: Stocks rebound, CAC 40 up...

August 27, 2025

Lego first-half sales hit record $5.4B on strong...

August 27, 2025

Zinc prices rally on US rate cut hopes,...

August 27, 2025

Google Cloud enters $30 trillion payments race with...

August 27, 2025

Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.

By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

Recent Posts

  • Why Enemies of Liberty Hate Economics

    August 27, 2025
  • Can Latin America’s Superwoman Save Venezuela?

    August 27, 2025
  • Blues Introduces New Fleet Management Capabilities to Simplify Large-Scale IoT Deployments

    August 27, 2025
  • The New On-Prem Pivot: Rethinking IoT Device Management in a Security-First Era

    August 27, 2025
  • Connexin LoRaWAN network connects a quarter of a million smart water meters across the UK

    August 27, 2025
  • Why Enemies of Liberty Hate Economics

    August 27, 2025

Editors’ Picks

  • 1

    Meta executives eligible for 200% salary bonus under new pay structure

    February 21, 2025
  • 2

    Walmart earnings preview: What to expect before Thursday’s opening bell

    February 20, 2025
  • 3

    New FBI leader Kash Patel tapped to run ATF as acting director

    February 23, 2025
  • 4

    Anthropic’s newly released Claude 3.7 Sonnet can ‘think’ as long as the user wants before giving an answer

    February 25, 2025
  • 5

    Cramer reveals a sub-sector of technology that can withstand Trump tariffs

    March 1, 2025
  • 6

    Nvidia’s investment in SoundHound wasn’t all that significant after all

    March 1, 2025
  • 7

    Elon Musk says federal employees must fill out productivity reports or resign

    February 23, 2025

Categories

  • Economy (2,344)
  • Editor's Pick (226)
  • Investing (185)
  • Stock (1,583)
  • About us
  • Contact us
  • Privacy Policy
  • Terms & Conditions

Copyright © 2025 Portfolioperformancetoday.com All Rights Reserved.

Portfolio Performance Today
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Portfolio Performance Today
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Copyright © 2025 Portfolioperformancetoday.com All Rights Reserved.

Read alsox

How are the Dow Jones index stocks...

April 21, 2025

Global coffee crisis brews as soaring prices...

March 8, 2025

Commerzbank sees China economic growth slowing in...

June 27, 2025