Experts say UK faces 10 years of higher energy prices until renewables electricity generate more and costs drop below last year's levels does, say experts.
Energy prices are expected to rise to £5,000 for the average household next year before falling.
This is more than four times his level last year, and the latest figures suggest the pain could last for years.
Consultancy Cornwall Insight saysRecord high energy pricesare fueled by the war in Ukraine and are beginning to spur investment in renewable energy But he said it will take time for consumers to feel it. merit.
The interconnections used for energy exports between countries have also recently come online, facilitating the movement of power.
This is seen as an important development in the widespread adoption of renewable energy, which relies on intermittent power generation that is dependent on the weather at a specific location.
Tom Edwards, senior his modeler at Cornwall Insights, focuses on large short-term increases in energy bills, making it difficult to see the long-term picture. says there is.
“Our new data projecting electricity price declines from 2024 to 2030 will help markets and governments to bolster current investments in renewable energy to boost energy supplies.
As the flow of gas from Russia to Europe has decreased, governments are concerned about the security of energy supplies and how electricity can be provided after this winter.
Renewables such as solar and wind "fit into the bill," Edwards said.
“Our data show the market benefits of growing investment in renewable energy. , which helps stabilize energy markets.
“Assuming Ofgem's price cap structure remains intact, we expect the cost savings to be passed on to consumers. The reduction in prices should be reflected in the maximum prices that suppliers can set.
“While this is positive news, prices are projected to remain above the pre-2021 average through 2030. We need to recognize that it is important that the UK and other countries maintain their course on low-carbon electricity generation, alongside other measures to increase energy. Security such as nuclear and various gas imports will be one of the key players in this journey.”
Experts warned it could exceed £5,000.
Energy consultancy Auxilione says current market prices are set to rise as regulator Ofgem cuts prices from next April. It showed that over a three-month period, the average household could be forced to set an annual cap of £5,038.
This is £200 more than previous projections.
This forecast is likely to worry energy users more than the higher figures in April, as households use more gas during the winter months.
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As it stands, the nightmare scenario is that the average household spends £571 a month on energy.
