We are facing steep power increases in the UK over the next few years as old coal, gas and oil powered plants go off line. Off course what Buchanan didn’t mention is that gas is a duel fuel used not only to make electricity but also heat our houses. So we can expect all parts of our bills to rise. Today we learnt the government are worried tankers carrying gas from Qatar are vulnerable to terrorist attack. We should have invested in more energy efficiency and renewables which would have saved use from the worst of this crisis.
Interestingly the graph above has no solar shown on it, even though there is enough to be visible now. This will be the real winner over the next 5 years. With PV costs having fallen many people will be investing in systems to protect themselves from power increases. The people hit hardest will be the poorest in our society and as we argued in our book some way has be found to protect them.