05 Dec '12, 5pm

Press release: Autumn Statement - REA responds to Gas Strategy

Autumn Statement: REA responds to Gas Strategy Posted: 5 December, 2012. Written by REA News Renewable Energy Association Press Release 5th December 2012 On George Osborne’s assertion that gas is “lower cost” and the measures to support shale gas exploration, REA Chairman Martin Wright comments: “The Chancellor must understand that gas is not cheap, nor does it offer stable pricing in the future. It has been by far the major driver of energy bill increases in recent years, and there is no evidence for the presumption that shale gas will have the same impact on prices here as it has in the USA. Moreover, increasing demand from other economies will undoubtedly drive prices and volatility. “The Strategy’s anticipated cost of capturing and storing the carbon emissions from gas in the 2020s is higher than nearly all renewable sources of power. So why is there such an emphasis o...

Full article: http://www.r-e-a.net/news/autumn-statement-rea-responds-t...

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