The UK Is Using An Inflated Carbon Price To Inform Its Energy Policy

The UK government has used inflated carbon price assumptions to show that solar and wind projects would be much cheaper compared to fossil-fuel-powered electricity generation in the coming years, analysts have told the Financial Times after the cabinet published a cost estimate for power generation. Last week, the UK’s Department for Energy Security and Net Zero published a paper, Electricity Generation Costs 2023, which suggests that solar and wind power plants would have lower costs over their lifetime compared to new natural gas-fired…