Our series on the leading parties’ plans for the UK energy market concludes with an analysis of the relevant statements in the Green Party’s manifesto, or as they call it “The Green Guarantee”
“We will prioritise urgent measures to tackle climate change, replacing fracking, coal power and subsidies to fossil fuels, with investment in jobs rich renewable energy technology.”
As you would expect from the Green Party, their main goal is to reduce climate change by lowering our carbon footprint. To do this requires continued investment in renewables generation technology, investment that is being slowed down under the current regime due to cut backs on funding.
The Green Party don’t state whether they would introduce more funding options so it’s difficult to know how they would go about achieving their goals.
The nuclear option is not one that the Green Party would explore, which, although popular with some, does leave a huge hole in our generation capacity that will need to be filled, especially if they also wind down the remaining coal fired power stations and place a ban on fracking.
Options for the volume of generation we require as a nation become somewhat limited with these options taken off the table. A noble goal indeed but is it a realistic one and one that is financially viable in the current economic climate?
The Green Party, like Labour, would bring the energy market back in to public ownership. Just like the Labour Party, they face the same issues with the implementation of this, and given their primary goal of renewable energy, it’s even more of a challenge. Both parties have spoken about the cost of energy being reduced if it was under public ownership, and have pointed to the cost increase incurred since privatisation of the market. What they have failed to address is that the majority of these costs have been government enforced levies.
To implement even a fraction of what the Green Party demand would require significant government funding which will have to be paid for from somewhere. This means that levies on energy bills will not be going away any time soon; public or private, the reality doesn’t change.
The Green Party clearly place sustainable renewable solutions above all else but this comes at a cost which will be carried by SME business, and they fail to mention business to business energy usage at all.
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Find the full Green Party Manifesto here.