Green Party peer, Jenny Jones, has welcomed the big payback from renewables that will be helping to reduce energy bills in the autumn and called on the government to double the size of the investment allowed in the next round of renewable energy licenses.
The contract for difference scheme previously acted as a subsidy for renewable energy by offering investors a guaranteed price, but with rising gas prices forcing up energy bills, that guaranteed price is now well below what consumers are paying. A report by the right of centre think tank, Onward, worked out that renewables already save consumers £221 a year because they had displaced gas consumption.
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