There is a debate ensuing about electrcity pricing! On one side the firm Octopus advocates local pricing supported by Ofgen whilst the rest of the energy companies are opposed. My thinking is driven by geography! The least populated and also some of the poorest parts of Britain are situated near sites suitable for wind turbines and tidal power and have space for solar. If energy became cheaper it would attract industry and alleviate the stress on the South East. The National Grid is undergoing a multi-billion pound refit which will probably still be needed, but maybe less pylons will be necessary if more energy is used locally. We need to avoid the situation where we shut down and pay for wind turbines to be shut off when it is windy, and at the same time import electricity for Norway!
Greater local energy production would also make the country less vulnerable to either physical or cyber attack.
London and the south east have less ability to generate electricity. I am sure the energy companies are happy with the status quo that delivers them large profits. I am also sure the RWP are preparing ludicrous arguments for either option Milliband choses!
I hear people complaining that it is Labours fault for rising energy prices (this is partially the fault of Labour which pledged to reduce the costs). However it is a no brainer economically to not back renewables! Only those who have shares in energy companies and pension funds would disagree.
My own example of solar panels works here. I was fortunate enough to be able to have the cash for the panels and installation – it took 7 years to write this sum off with lower energy bills. So a government scheme that added the cost to a mortgage with maybe 5% interest would take maybe 9 or 10 years to pay off. Oh and I am on a guaranteed sum from the govt. The sums get confusing, but if people are willing to put up the cost of power generation as individuals, it makes total sense to guarantee them a price that rewards their investment – I believe that nuclear power plants are offered nearly double the guaranteed price.