Renewables ‘cheap and secure’

Wind turbines and solar panels have become the cheapest, greenest and most secure energy available to households across Britain amid a massive crisis for global fossil fuels, the boss of regulator Ofgem has said.

Jonathan Brearley said that now, more than ever, the three priorities of afford ability,security and sustainability now complement rather than contradict each other.

"The energy crisis and the war in Ukraine makes the need for our transition towards energy independence and net zero more, not less, certain," Mr Brearley told the Future of Utilities Summit in London yesterday. “And the faster we get there, the better it will be for our customers."

He said massive recent hikes in the price of gas have pushed down the relative costs of low carbon electricity."the economics has changed forever; that energy becoming not only the most sustainable but also the cheapest and most secure option," he added.