Not only are these shocks coming at pace. But it is depressing that four years on from the last we have done literally to materially change our options to respond 🧵

UK - heading for another energy induced CoL shock? Maybe but not huge 🤞

1) It's at the moment an oil price issue not yet gas. We'll pay more at the pump. ~2/3 of UK oil comes from US/Norway, more expensive but not threatened.

2) Gas prices don't really track oil. 40% of UK gas is imported...

1.3GW onshore wind from a standing start is great, a new record. Only 2 of those are in england, after the effective ban was removed you'll expect that pipeline to grow rapidly over the next few rounds - still capable of coming online before 2030 (unlike offshore which takes longer to build)

More from Claire Coutinho today on the other platform, comparing offshore wind results today to gas running costs, ignoring soaring gas construction costs...and we have to build something

In fact, from gov stats today:

New offshore wind: £95/MWh
New gas: £109 to ~£145/MWh

gov.uk/government/p...

AR7 offshore wind results out. assets.publishing.service.gov.uk/media/696686...

8.5GW is top of end of what I was expecting and probably right on the line between waiting for costs to (maybe) fall and the supply chain needing certainty. Price of £91mwh is besides what critics will say - good value

Will withhold judgement until it beats the Lion King video game

ENERGY BILLS! Paying for the renewables obligation brings the UK in line with other countries. Early investments in renewables were innovation spending, strange and unfair to get consumers to pay for that.

Skills passports: An essential part of a fair transition | IPPR Declining North Sea reserves and low international oil prices, not net zero policies, are largely responsible for current job losses in oil and gas, but th

Details important, but North Sea Jobs Service could be a big win for unions and workers in oil and gas industry, who have been clear they want a path out of the industry

One of our @ippr.org key policy asks too

Language of 'end-to-end support' particularly welcome
www.ippr.org/articles/ski...

Cut of £150 to energy bills is welcome start, particularly taking Renewable Obligation off bills, but scrapping ECO is a concern.

It had huge problems, was very inefficient, but biggest scheme for insulation.

Replacing ECO with £1.5 billion for one year is a real 'prove it' challenge from Treasury

Quick skim through the budget - some small tidbits on housing (beyond the tax stuff)

👥Funding for extra capacity in the planning system - should help process planning applications & get decisions made faster

1/2

*New Carbon Budget Plan is out (ish)* WS if not gov.uk

Inheritance isn't an excuse but this is a good example over the new government picking not only a failed plan but a lack of progress on key metrics specifically homes, transport and industry

questions-statements.parliament.uk/written-stat...

The sixth carbon budget: The first without consensus | IPPR It was initiated by Labour, and built on by the Conservatives, with the SNP, Greens and Lib Dems pushing only to go faster. This drove cross-party agreemen

New piece from me on the @ippr.org blog - on how the politics of October's 6th Carbon Delivery Plan look very different to before

www.ippr.org/articles/six...

To put this another way, the total tonnage of critical minerals needed for a global clean tech transition is less than ONE YEAR of fossil fuel mining

This doesn't make local engagement any less important. But there's a lot less environmental destruction on the horizon if we can reach it

(3/3)

Mining quantities for low-carbon energy is hundreds to thousands of times lower than mining for fossil fuels We will need to mine millions of tonnes of minerals to transition to low-carbon energy. But we're currently mining billions of tonnes of fossil fuels every year.

Green techs are lower carbon than cars, boilers power plants etc but they are also CONSIDERABLY less resource intensive

The annual demand in tonnes for critical minerals needed for green tech is OVER 500 TIMES lower than for coal, oil and gas

www.sustainabilitybynumbers.com/p/mining-low...

(2/3)

The rise of green tech is feeding another environmental crisis The world's race to decarbonise has led to the rise of electric cars - and with it, soaring demand for lithium, which is required for the batteries

Interesting article from @ionewells.bsky.social over the weekend, genuine local engagement should always be a requirement of any mining project

But there's also a major question missing - what is this replacing?

This leads to one of my favourite stats ever...

(1/3)

www.bbc.co.uk/news/article...

After 15 years of chop and change, today's industrial strategy is a real turning point for the UK economy.

Business finally has the certainty it needs to invest — especially in the green industries of the future.

📻 #ICYMI: @rachaelhenry.bsky.social on @lbc.co.uk 👇

Extending Free School Meals to everyone on Universal Credit would lift 100,000 children out of poverty, saving families £448 per year per child.

📚 Our report out today sets out a long-term plan to reduce child poverty: www.ippr.org/articles/get...

New piece by @rachaelhenry.bsky.social & I for the IPPR blog.

The industrial strategy just got harder lets be honest. Tariffs, economic downturn are threatening existing industries at a time govt is trying to reshape or build new ones. They're being pulled in two directions.

🏭 | NEW REPORT: Without urgent action, there will be no operational nuclear power plants in the North by 2030. Our new paper sets out a plan to preserve professions, pride and power.

www.ippr.org/articles/nuc...

Unless new projects are swiftly announced, there will be no operational nuclear power plants in the north of England by 2030 - ending a proud tradition that began with the opening of Calder Hall at Windscale in Cumbria in 1956.

Find out more here: www.ippr.org/articles/nuc...

🩺 | NEW REPORT: Building an NHS fit for the future is a life-or-death challenge. A new IPPR report outlines three key reforms that could save £21bn annually and keep NHS spending sustainable.
www.ippr.org/articles/ref...

It smacks of a manager who's putting his reputation ahead of the team's needs. If he was putting the team first he'd have risked losing with a total second or third team. Instead we went in with a half and half to avoid embarrassment and lost anyway.

🤖 | NEW REPORT: Realising the benefits of AI takes more than just speeding up deployment. A first-of-its-kind database of 3,256 AI firms in the UK reveals what these companies are doing — and, crucially, where the gaps are.

Read here: www.ippr.org/articles/the...

Everything everywhere, all at once: The need for a four nations approach to accelerate wind deployment in the UK | IPPR This is a challenge that crosses borders and needs devolved and reserved powers to all pull in the same direction. In this report, we explore existing inte

📢NEW REPORT: Everything Everywhere All At Once📢

➡️95% of onshore wind projects in pipeline are in devolved nations

➡️A four-nations approach is needed for the UK government to meet its 2030 clean energy targets

By @joshemden.bsky.social and @davehawkey.bsky.social⤵️

www.ippr.org/articles/eve...

📻Different parts of policy and regulation across devolved and reserved powers should work together as a well-oiled machine in the development of wind projects.
@davehawkey.bsky.social speaks on BBC Radio Scotland about his brand new report with @joshemden.bsky.social
#RenewableEnergy #CleanEnergy

££££: UK drivers can save as much as £1,000 a year with an EV

According to CrowdCharge, average home EV charging costs are half those of a petrol car or a third with smart charging

And they can save nearly £1,000 a year by using their EV as a "vehicle-to-grid" (V2G) battery

🇬🇧The UK needs an industrial strategy for heat pumps

🔥We have Europe's largest manufacturing sector for gas boilers which are being phased out employing 6k people

🏭But only the 12th largest sector making the technologically similar heat pumps, the industry of the future

A quick 🧵 on #budget2024 implications for transport

In sum: this was a ‘steady as she goes’ budget that saves up many of the big investment decisions until next year. The future of motoring taxes should be addressed then too - we need a long term fix for the political reluctance to raise fuel duty