Cost-of-living crisis: what should politicians be doing about rising energy bills?

How can we keep energy bills down? It’s a question that has been at the top of the political agenda since Russia’s invasion of Ukraine sent gas prices soaring. With the government forking out eye-watering sums to guarantee prices for consumers and businesses, a longer-term solution has to be found. But are renewables the answer?

In January, The Spectator had the opportunity to discuss this issue, when we hosted a roundtable lunch (made possible by RenewableUK, the UK’s leading renewable energy trade association) at Old Queen Street. With a number of energy experts and analysts around the table, our editor Fraser Nelson and economics editor Kate Andrews sought to clarify the burning questions around UK energy security.

As CEO of RenewableUK, Dan McGrail has supported and advocated on behalf of over 450 companies to increase renewable electricity generation in the UK. The focus of reporting in this energy crisis has often been on the high profits of the oil and gas industry, yet renewable sources are also now subject to a windfall tax of 45 per cent, above that on oil and gas.