UK fuel crisis: Kwarteng touts renewable energy as long-term solution to shortage

As Britain continues to battle astronomical fuel prices, the administration has touted renewable energy as its only long-term solution. On Monday, the UK's Secretary of State for Business, Energy and Industrial strategy Kwasi Kwarteng said that getting “gas off the grid” was the only solution to bring down its prices. He further emphasised that increased investments in alternative energy options could enhance the UK's standing in green technologies and bolster its energy security. 

"The Business Secretary also spoke about the issue of high global gas prices. He reiterated the government’s commitment to continue investment in renewable energy projects and getting unreliable gas off our grid as the only long-term solution to bringing down costs for consumers and strengthening Britain’s energy security, whilst boosting the country’s competitive advantage in green technologies," Kwarteng was quoted as saying by Sputnik.

Prices of gas have witnessed a dramatic surge in the past few months, leaving the British helpless. Regardless, gas remains pivotal to the country’s energy grid, with more than 22 million households dependent on fuel. As per Sputnik, “in 2020, 38 per cent of the country's gas demand was used for residential heating, 29 percent for electricity generation and 11 per cent for industrial and commercial use.

EU to tackle high prices of Russian gas 

Meanwhile, Europe’s energy ministers have joined forces to establish a plan to reduce their dependence on foreign gas and purchase supplies as a part of a larger effort to combat Russia’s stake in highly coveted resources. As Moscow continues to surge prices of gas, the 27 member bloc is set to purchase strategic gas reserves. It is worth mentioning that 41 per cent of the bloc's gas comes from Russia, which was recently asked to pump more of it to the bloc. 

According to the news website, gas prices across the European continent have surged by 250 over the past year, threatening the continent ahead of harsh winter months. Many countries, including Spain, Germany and France, have taken individual steps to combat the energy crisis. While Spain has capped the energy prices, France has promised a one-time payment of up to €100 to people battered with the gigantic energy bills. 

Image: AP