Believer in freedom and democracy. Opposes authoritarianism. Deep dives on UK energy policy & Net Zero realities | Eigen Values Substack
Hampshire - UK
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🚨The UK Government’s plug-in solar safety report is a shocker! They’re pushing plug-in panels hard for net zero, but the safety study by unqualified person has serious flaws that put homeowners at risk. Thread 🧵(1/11)
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If her anxiety doesn't stop her speaking on live TV, she is well enough to get a job.
Lady on PIP explains she's job hunting but also suffers from anxiety
Reform UK's Matt Goodwin doubles down criticising those on disability
#BBCQT
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A friend told me I needed to simplify my articles and produce a Net Zero for Dummies. Well, here goes, the folly of Net Zero in eight charts (1/12)
ALT Ed Miliband Net Zero for Dummies
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Singapore's GDP per capita is more than twice that of the UK. We should be getting aid from them.
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Yesterday the Ofgem price cap went up, but both electricity and gas prices are down since the last price cap. Miliband & ministers lied and blamed fossil fuels for the rise, so now we're paying a moron premium on our energy bills. A thread 🧵 (1/n)
ALT Energy bills moron premium
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The King would be absolutely right to strip Ed Davey of his knighthood for his negligent treatment of the postmasters.
The King is absolutely right to strip Prince Andrew of both his titles and his residence at the Royal Lodge.
It’s clear that Andrew's position had become totally untenable, having disgraced his office and embarrassed the country.
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When Ed Miliband’s name is being floated as the next Chancellor, you know beyond reasonable doubt that you're living in a wankocracy in terminal decline.
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UK Natural gas prices below 78p/therm, similar to levels seen in late 2018. Why are our gas and electricity bills still so high?
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So was Starmer's son at home studying for his GCSE's with his Mum, or in a luxury Covent Garden apartment? Which statement from #TwoTierKeir was a lie?
telegraph.co.uk/politics/202…
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UK gas prices close to 1 year lows, yet the energy price cap is going up next month.
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Ford fined for not selling products customers don't want. This is Soviet era madness.
Ford faces £100m bill for failing to sell enough electric cars thetimes.com/business-money/…
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UK Wholesale Electricity prices down to £73/MWh or 7.3p/kWh, similar to late 2018 and below late 2016. Why are our bills so much higher than then? Why is the price cap set at 25.7p/kWh with 51p/day standing charges on top?
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Germany's first offshore wind farm closes after 15 years because it's too expensive to operate now the subsidies have run out. Some of the UK's first ROC-funded wind farms will run out of subsidies soon. Expect a car crash.
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If it's gas driving electricity prices, then why aren't our electricity bills back down to 2018/19 levels, like the gas price?
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Wholesale electricity prices back down to where they were in late 2018. Why is the latest electricity price cap 66% higher than Oct18-Mar19 price cap?
#CostOfNetZero
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UK gas prices 5X those in the US and electricity prices are 4X higher. We need to declare an energy emergency in the UK and drill baby drill too.
I thoroughly approve of declaring an energy emergency and going for maximum production on all fronts.
People deserve to be better off.
#Inauguration2025
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The wheels are coming off Ed's energy policy. What kind of energy security is this?
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Apparently, Cleve Hill solar park has just come online. How can anyone believe this monstrosity is protecting the environment?
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Bond market not reacting well to Torsten Bell becoming the architect of the next Budget. 30Y bond yields at multi-year highs, over 5.6%.
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14,000 wind turbines to dismantle across Europe by 2030. 40-60,000 tonnes of blade waste they don't know how to recycle. Wind power is not environmentally friendly.
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New nuclear is a threat to Dale's subsidy harvesting.
Disappointing decision but the campaign continues – new nuclear just doesn’t make sense...
bbc.co.uk/news/articles/c0ew…
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Today, UK wholesale electricity prices are down to levels of late 2018 and early 2019, driven by gas. But our electricity bills are much higher than 2018. Renewables are driving our electricity bills higher.
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New data out from the Government today. The UK has the most expensive industrial electricity prices in the world. 4X those in the US and 46% above the IEA median. (1/3)
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In which case, get Miliband sacked, restore North Sea exploration and get fracking
I want to boost investment in Britain, increase pension pots and make working people better off.
My piece in the @DailyMailUK 👇
dailymail.co.uk/news/article…
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Factory making glass fibre for wind turbine blades closes because wind energy is too expensive. This is Miliband's green industrial revolution in action.
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They're just lying through their teeth now.
'Reducing bills by £300 that is something we stand by, we will be looking to achieve that by 2030'
Government minister Nick Thomas-Symonds spoke to #BBCBreakfast after energy regulator Ofgem revealed average annual gas and electricity bills will rise by 2% from October
bbc.co.uk/news/articles/c78z…
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We are approaching Net Zero's Berlin Wall moment.
Chief economist at major investment bank PanmureLiberum calls for Ed Miliband to be sacked. @Frencheconomics
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How did Dale Vince become a green energy tycoon? Is it because wind is cheap as he claims? Or is it through subsidies? Declining performance and expiring subsidy support could spell trouble ahead. Let’s dive in! (1/16)
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The US is the largest oil producer and has cheap & abundant energy. The UK, with expensive energy & dwindling supplies has banned North Sea development. Time for the Great British Energy Emergency. A thread 🧵(1/n)
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Spend £2.9m to save "up to" £15K per year on bills. That's at best a 193 year payback. It only makes sense to fools spending other people's money.
BIG NEWS: 38 schools across London are getting funding for solar panels and heat pumps thanks to @MayorofLondon’s Greener Schools Fund.
£2.9m invested to cut bills by up to £15k - backing our schools and building a fairer, greener city for everyone.
➡️ bbc.co.uk/news/articles/cvgn…
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Everything Miliband is doing is increasing the fixed costs of the network which means bills will never come down. We spend twice as much on renewables subsidies (£12bn/yr) than we do on gas for electricity, about £5.5bn.
.@eonenergyuk’s CEO explains UK households are not paying high bills because of gas - but because of the growth of embedded policy & network costs. Even with zero wholesale prices in 2030, bills could be as high as they are today. That's madness. This is about political choices.
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We're now importing more from France alone (4GW) than our total combined wind and solar output (3.35GW). This is not energy security.
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There's a lot of misinformation coming from the BBC, ITV and others claiming renewables are cheap. This short video shows that renewables are much more expensive than gas. Please share widely.
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UK electricity spot prices down to the level of late 2018. Why are our bills so high and forecast to go even higher? Renewables and Net Zero.
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New energy price data out for 1H24 today. If you want to know why UK industry is closing, it's because we have by far the most expensive industrial electricity prices in Europe. This is the cost of Net Zero, and Miliband's policies will increase prices further.
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Miliband is truly insane. Removing our 0.8% of CO2 emissions won't change the weather. Expensive renewables hurt the poorest most and kill jobs in the real economy. There's no security from intermittent power. Wrong on every point. 🤡🌍🤪
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Well, well, well.
Labour’s big Chagos secret is out 💥
The £47bn Chagos Surrender ‘deal’ was built on UNCLOS - a law of the sea convention the UK opts out of for military activities under Article 298.
The legal threat was a sham. The deal is bogus.
Scrap the deal and end this madness. 🇮🇴
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Lying, delusional charlatan.
Renewables are the problem and he's offering 20-year index-linked contracts at prices far higher than gas-fired power unencumbered by carbon taxes.
“I know my job is to get bills down by 2030”
Energy secretary Ed Miliband defends the government’s approach on energy bills
#BBCLauraK bbc.co.uk/programmes/m001bv0…
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Narrator: Gas prices are well below where they were for the whole of 2022. Both gas and electricity prices went down in the latest price cap, but the price cap went up.
Pants on fire 🩲🔥
1/ We know that any price rise is a concern for families. Wholesale gas prices remain 75% above their levels before Russia invaded Ukraine. That is the fossil fuel penalty being paid by families, businesses and our economy.
Community note
Figures provided by Ofgem show that the wholesale gas price in the UK is now actually below the level it was prior to Russia invading Ukraine in February 2022.
ofgem.gov.uk/news-and-insig
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A good rule of thumb is if they need subsidies, they're not cheaper. We pay £11bn/yr to subsidise renewables. And we must pay £10bn/yr more to connect them to the grid & another £2.5bn for grid balancing and £1bn for capacity market backup. Renewables are not cheaper.
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If Miliband now admits his flagship promise was a lie he should resign.
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Starmer's gone insane. What procedures do we have to impeach a sitting PM?
Exclusive from @georgegrylls
Sir Keir Starmer intends to 'push ahead' with deal to cede sovereignty to Chagos Islands and has offered significant concessions
Navin Ramgoolam, Mauritius's new prime minister, said his country has been offered 'complete sovereignty' of Diego Garcia, home to a critical US military base
He claimed that Starmer has effectively doubled the £9bn originally offered to Mauritius and weakened the British lease for Diego Garcia
He said the new deal will frontload instalments and link them to inflation. He also said that Mauritius will now have a right to veto extending the lease
He also revealed that Lord Hermer, the attorney-general, was involved in the latest round of face-to-face negotiations
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Good news for Rolls-Royce as it wins the SMR competition. But this ought to have been announced 12 months ago.
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The prices that Ed Miliband is offering in the forthcoming AR7 auction for new renewables capacity indicate that he is going to blow the £260-290bn budget for his Clean Power 2030 plan. A thread (1/n)
ALT Ed Miliband's figures do not add up and he is going to blow the budget of his CP2030 plan.
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Our electricity generation per capita is falling rapidly towards the levels of developing economies. Meanwhile other countries are stepping up generation. This is what renewables and Net Zero are doing to the country.
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The rational response to high prices should be to increase supply. But Ed has banned more North Sea drilling and won't lift the fracking moratorium. He wants your bills to go up.
1/ The rise in energy bills, as a result of the global spike in gas prices, will be worrying news for families.
As long as we remain exposed to fossil fuel markets, we’ll be stuck on the rollercoaster of prices.
We’re taking action👇
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We're currently getting more power from France than our 32GW wind fleet is able to produce. What was that about renewables giving energy security Ed?
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There you have it. UK on the hook for its share of $300bn/yr climate funding. Up from $100bn/yr. We are knocking on the door of 100% debt:GDP, running twin budget & trade deficits & planning £260-290bn spending on a net zero grid by 2030. Where's the money coming from? #COP29
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Demand right now is 45.5GW. Solar producing precisely zero and our 31GW fleet of wind turbines is managing just 2.5GW. Gas 23.5GW. How are we going to get to a net zero grid by 2030 Ed?
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North Sea investment cut by Ineos and downstream investment in olefins and polymers at risk because of high taxes and expensive energy. Starmer says he wants growth, but can't move Miliband away from DESNZ. Economy dying because of impotent PM and green zealotry.
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If wind power is so cheap, presumably you'll be handing back all the subsidies you have received over the years because they're not needed.
Wind energy vs. Nuclear energy
We are the Saudi Arabia of wind energy we have enough to power the UK several times over.
Wind energy is the fastest, cheapest, cleanest new energy we can make..
Nuclear is the slowest, most expensive and most dangerous new energy we can make.
It’s very black and white.
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I am surprised I haven't seen anyone cry about this.
UK electricity system is the most expensive in Europe. More renewables mean higher prices.
I'm surprised I haven't seen anyone shout about this.
Britain's power system is totally ditching fossil fuels.
Gas-fired power: collapsed by 40% over the last 3 mo.
Coal: virtually extinct.
Carbon emissions: lowest ever.
Stay tuned for more in Electric Insights out next month.
ALT Chart showing the electricity output (in TWh) from gas and all fossil fuels (gas+coal+oil). They are going down. Way down.
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Four cables from Finland are now compromised, yet Miliband is basing our energy security on increasing interconnector capacity. We need our own reliable electricity generation capacity.
Four cables in total are now compromised, officials say. Two have been broken and two others damaged, three of them between Finland and Estonia and one between Finland and Germany.
They say this level of destruction generally requires external force. 3/
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Take a chainsaw to the myriad quangos, ditch Net Zero and all the subsidies, eliminate carbon taxes, restore North Sea exploration and development and get fracking. Invest in new nuclear under streamlined regulatory regime.
bbc.co.uk/news/articles/cy0n…
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High productivity requires cheap energy. Sack Miliband, repeal the Climate Change Act, get rid of renewables subsidies, scrap the windfall tax and allow drilling for hydrocarbons.
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Most of Dale's windfarms are ROC-funded meaning they get paid subsidies on top of the market price of electricity. A shortage of gas will push up prices and directly benefit Dale. Guess who paid over £2m to Labour since the start of 2023, effectively buying their energy policy?
Fantastic to see this from @Ed_Miliband today - following through precisely on his pre-election promises, no revocation of existing licences - but no new licences to be issued. I don’t see how the oil industry can complain about that. The dozens of licences that the Tories were weeks from issuing have simply been overtaken by the snap election. Great to see politicians keeping their promises, rather than looking for wriggle room and grey areas. I expect we’ll see more of this from Labour - integrity is at the heart of this new government. And action on the green economy. Loving the pace of change!
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If even Greg Jackson is supporting more North Sea drilling, surely Miliband will climb down and lift the ban.
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The Government is finding out that you can ignore reality, but you can never ignore the consequences of ignoring reality. Net Zero is increasing our electricity bills and the economy is struggling as a result.
The UK government has quietly admitted that renewables and other low-carbon technologies essential to the rapid drive to net zero are more expensive than using fossil fuel, City AM can reveal, which has in turn made energy bills higher for Brits up and down the country.
Labour ministers are expected to double down on expanding the use of green technologies to lower costs as the Treasury and Department for Business and Trade are set to unveil the UK’s industrial strategy next week.
The admission came in the minutes for a PAC report, which is publicly available online, detailing the government’s responses to recommendations made on energy policy.
Read the full story here 👇
bit.ly/3I1LG8K
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Suella Braverman expressed concern about two tier policing and was sacked by Sunak.
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Wholesale gas and electricity prices are down. But the price cap is up, driven by Net Zero policies and expanded Warm Homes Discount
1/ We know that any price rise is a concern for families. Wholesale gas prices remain 75% above their levels before Russia invaded Ukraine. That is the fossil fuel penalty being paid by families, businesses and our economy.
Community note
Figures provided by Ofgem show that the wholesale gas price in the UK is now actually below the level it was prior to Russia invading Ukraine in February 2022.
ofgem.gov.uk/news-and-insig
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You want to spend £260-290bn to save £7bn/yr on gas for electricity. Unsurprising, but still shocking that another PPE graduate can't add up or understand the real world.
First time representing the Government at Treasury Questions yesterday. Looking forward to helping the Tories understand that unless we deliver secure, home-grown renewable energy through cheap renewable generation, there is no energy security ahead.
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Someone tell him that electricity costs >4X gas in the new price cap, so with a COP of 2, the heat pump will cost more than twice as much to run as a gas boiler.
I was at our heat pump centre recently with @john_oes. Here’s a heat pump at -11C warming radiators to 45. At -7C it was 200% efficient (>>twice as efficient as a gas boiler)
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Britain uses ~30% less energy & 25% less electricity than in 2000 – despite population increase. The Americans use the same amount of energy as then & 15% per cent more electricity. That’s a big part of the reason why they still have economic growth and we do not. #CostOfNetZero
"As Britain’s Leftist puritans enforce rationing, America lives in abundance"
I've written in the @Telegraph tonight about our establishment's refusal to adopt an abundance mentality and their fundamentally disdainful attitude to economic growth. 👇
telegraph.co.uk/gift/e8f8537…
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It's suddenly dawning on Greg that the "cheap" renewables he's been pushing for years are actually very expensive, so now he wants to hide the costs by transferring them to gas, on top of carbon taxes.
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Not too long ago, the Government launched the Subsidy Control Transparency Database. Last week it was updated with figures from renewables auction AR6. I counted £328bn of energy/Net Zero subsidies. Where is all the money going? A thread 🧵(1/n)
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Here's where West Midlands police admit two tier policing. "Community Leaders" negotiate a free pass and armed gangs are free to intimidate people and damage property. #TwoTierKeir
West Midlands Police discuss disorder that kicked off after misinformation spread online. The Sky News crew covering the unrest in Birmingham were followed by a man holding a knife and wearing a balaclava after broadcasting live.
trib.al/ses020Q
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There's a ticking timebomb in UK offshore wind: massive decommissioning costs that aren't properly funded. Like in "The Big Short," a forensic look reveals developers might be ignoring guidelines, potentially leaving taxpayers on the hook. A thread 🧵 (1/18)
ALT Offshore wind decommissioning timebomb
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29% chance of power cuts this afternoon. What is so hard to understand about no wind = no power?
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Miliband is set to wreck the economy with the renewables prices he is offering in AR7. In 2025 prices, offshore wind is going to be offered £117/MWh, index-linked for 20 years which compares to today's price, set by gas of £73/MWh. A thread (1/n)
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It's starting. Rationing electricity by charging punitive rates at peak times. A Net Zero grid can't deliver what we need when we need it.
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How do you go bankrupt? Slowly at first, then suddenly. How does Net Zero crumble? Slowly at first, then suddenly. Net Zero is collapsing faster than the coal power stations blown up by Alok Sharma. A thread (1/n)
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A group called Zero Hour is promoting the Climate and Nature Bill circulating in Parliament. Sadly, their name invokes an alarming echo of Pol Pot’s Year Zero and the measures in the Bill do nothing to assuage those concerns. A thread 🧵 (1/n)
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They're desperate to shift the eye-watering costs of all those "cheap" renewables on to our gas bills to make it even more expensive to heat our homes. It's a death cult.
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If EVs were cheaper and better, there would be no need to subsidise them. And subsidising expensive products means that the poor are subsidising the rich. This is "progressive" green ideology in action.
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Long bond rates much higher than the Truss spike. Starmer and Reeves are crashing the economy.
Liz Truss’s fantasy economics crashed the economy. My Government was elected to fix the mess.
Now Nigel Farage wants to repeat her mistake.
You can’t trust him with your job, your mortgage, your pension, your bills, or your future.
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Ed Miliband's claims of lower bills from his Clean Power 2030 plan do not add up. We spend £6-8bn on gas for electricity, so how can spending £260-£290bn on CP2030 make electricity cheaper? A thread 🧵(1/n)
ALT Ed Miliband's claims of cheaper electricity from his Clean Power 2030 plan do no add up.
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Narrator: Green jobs in wind and solar cost the rest of us £192K per job per year.
Good wages.
Strong trade unions.
No need to leave your hometown.
Our landmark Clean Energy Jobs Plan will deliver hundreds of thousands of good jobs across the country.
mirror.co.uk/news/politics/e…
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They're formulating ever more desperate measures to pay for Miliband's Clean Power 2030 plan. Now they want to turn energy bills into a kind of income tax.
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VAT is 5% of bills. But carbon taxes make up 31% of wholesale electricity prices. Cutting carbon taxes would being to tackle the root cause of high energy bills. Reeves should do both.
"Scrapping VAT on energy bills is an obvious place to start, and we are told it is one of the key ideas being looked at by the Chancellor. To pay for that will mean even more tax rises elsewhere, which is likely to be economically damaging" says Adam Smith, "Neither is going to turn things around for the Government politically, and both could do yet more damage to the economy. Which just about sums this Government up."
#CostOfNetZero
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Miliband strikes again. Our 32GW wind turbine fleet producing just 0.69GW this morning.
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Our 32GW wind fleet is producing just 0.41GW this morning. Less than 1.5% of demand. Complete waste of capital and resources. Gas and interconnectors taking the strain.
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James doesn't seem to understand that even if the UK eliminated it's remaining half of CO2 emissions, it's less than 1% of the global total, so would make no difference to climate. But we will destroy the economy trying.
Labour is going to take a lot of flak from usual suspects over its stance on new coal, oil, and gas mines, but the simple fact remains that if we are to stop global warming spiralling beyond 2C with all that entails we need to stop burning fossil fuels. businessgreen.com/news/43345…
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UK gas prices back down to late-2018 levels, but the latest Ofgem price cap for gas is ~60% higher than Oct 2018-Mar 2019. Much higher policy costs, debt recovery and profit, but fuel costs much higher too. We're being taken for a ride. Sources in reply below (1/2)
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Why are electricity bills going up? Gas has played a part, particularly in the short term, but if you zoom out and look at a longer timescale, renewables are the main driver of high prices and will continue to be so. A thread 🧵(1/n)
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If wind is cheaper than gas then why does it need a surge in subsidies?
telegraph.co.uk/business/202…
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