Friday, March 06, 2026
Renewables must form basis of UK energy security
The paper quotes research published on Thursday, which shows that the last fossil fuel energy crisis, caused by the Russian invasion of Ukraine, cost the EU and the UK $1.8tn between 2022 and 2025, driving up bills and fuelling a devastating cost of living crisis.
Now, the US-Israeli attacks on Iran, which started at the weekend, have resulted in fossil fuel prices surging again, with experts saying that the crisis underscores the need for the UK to end its dependance on such an unstable energy source:
Bob Ward, from the Grantham Research Institute at the London School of Economics, warned the ongoing conflict in the Middle East and subsequent surge in oil and gas prices “could translate into significantly higher energy bills for British households and consumers”.
“The UK is vulnerable to the volatility of international fossil fuel markets, and the only way to protect ourselves from these price increases is by speeding up the transition to domestic supplies of clean energy, namely renewables and nuclear power.”
The UN’s climate chief, Simon Stiell, said the latest upheaval in the Middle East “shows yet again that fossil fuel dependence leaves economies, businesses, markets and people at the mercy of each new conflict or trade policy lurch.”.
He added: “There is a clear solution to this fossil fuel cost chaos – renewables are now cheaper, safer and faster-to-market, making them the obvious pathway to energy security and sovereignty.”
Research published on Thursday by the Transition Security Project showed that the 2022 energy shock had cost the UK and the EU $1.8tn and left governments increasingly dependent on imports of liquid natural gas from the US, giving Donald Trump a stranglehold over EU and UK energy supplies.
The study found the rising costs came through higher household and business energy bills and from the cost of government policies such as price caps, rebates and tax cuts, which aimed to softened the direct impact on consumers of the fossil fuel crisis.
Kevin Cashman, author of the report, said the 2022 energy crisis “presented a fork in the road for Europe – double down on volatile fossil fuel markets, or pivot to homegrown clean energy and greater security”.
“The failure to do the latter has left people on ordinary incomes paying the price for an irresponsible and shortsighted energy policy,” he said.
This isn't just about the cost of energy and its impact on living standards. Energy security means that we have to generate our own power and reduce our dependence on others. It is about the security of the nation.
