Offshore wind: a rare success for the Tories

Bertrand Russell always counselled : “don’t be so keen to diss the other guy. Much of the time you will be less right, and he less wrong, than you imagine.” That is the rough gist of what he said and we have alluded to it before in these pages. Nowhere have we seen the doctrine better echoed than in an article by Professor Rebecca Willis (Guardian 20 June 2024).[1]For when historians come to write the history of the Government first elected in 2010, they will do well to consult her piece.

Professor Willis is clear: the UK is the number two superpower in turbine energy generation. Second only in fact to the Peoples’ Republic of China, a somewhat larger political entity. How was this done? Rebecca tells us:

growth in offshore wind can be traced back to a 2014 decision to establish a new support mechanism for low-carbon generation. ……..;.;. it guarantees a set price for units of electricity. If the market price falls below the set price, the generator receives a top-up payment. If the market price rises above the set price, the generator pays back the difference.

It essentially stabilises the market and provides certainty for power generators, making it worth their while to invest for the long term. As a result of this and similar policies, the cost of offshore wind in Europe has fallen by 60% over the past decade, to become a cheap source of electricity.

They had a plan. They aligned it with economics. The result was not only a boost for manufacturing, but a strategic success , as was shown when Russia invaded Ukraine in 2022 and gas prices skyrocketed. But even this far sighted achievement was badly compromised, as Rebecca explains:

But then Tory politicians began to listen to siren voices from a small but powerful anti-net-zero lobby, funded by dark money from fossil-fuel companies

Now certain oily politicians are pushing back on net zero itself, as if ignoring reality will somehow make it all more bearable. And they are full of venom to towards those who disagree. Our view at LSS is that of Russell. You can’t like everyone; but try to be polite. You never know from what corner salvation is going to come. Even the Conservative Party.

[1]https://www.theguardian.com/commentisfree/article/2024/jun/20/tories-green-legacy-labour-government-climate-green-energy-uk-offshore-wind

#wind turbines #oil money #net zero #renewables #climate change #global warming