Read the full coverage in the Financial Times: www.ft.com/content/fce6...

Not only would this put money in the backpockets of households across the country, it would drive growth and new jobs: from the skilled heating engineers and retrofitters installing new equipment, to the industrial-scale plants manufacturing insulation and clean heating systems in the UK.

Labour's Warm Homes Plan would tackle this but now may be cut.

@e3g.bsky.social's @jamesdyson.bsky.social coordinated a letter from 50 businesses calling on the govt to honour its pledge to spend an extra £6.6bn on making British homes more energy efficient.

Read here: www.ft.com/content/fce6...

Read the full letter, signed by @e3g.bsky.social and 16 others, here:

www.e3g.org/news/cut-ele...

We say it makes far more sense to pay for these via taxation, where costs are recovered progressively. This will free up business capital to #invest in #electrification and #EnergyEfficiency, and free up cash for low-income households, who are disproportionately affected by the current model.

What are policy costs? Generally things to help incentivise #CleanEnergy (if you've got #solar you may have had a Feed in Tariff).

Invaluable schemes that helped scale-up #wind and solar, but paying for them via electricity bills is regressive and disincentivises the switch from gas to clean power.

Why are we asking for this?

High 🇬🇧 power prices are a massive burden for households, especially on low incomes, make it difficult for UK industry to compete internationally, and deter investment into new, #CleanIndustry. Removing #PolicyCosts is a fast and fair way to reduce those prices.

...time and public funding are limited.

CCS is receiving billions in subsidies while electrification receives next to nothing.

If we're developing solutions alongside each other, it surely makes sense to go big, now, on the ones that can already be deployed at scale and with less financial risk.

CCS has a role, e.g. in chemicals and cement, and potentially for dispatchable power.

And yes, it's a nascent industry with high costs right now that are due to come down.

BUT...

Steel will not use CCS.

Low temperature heat and light manufacturing will likely electrify.

Ceramics will achieve 85% of emissions reductions without CCS.

Glass will use electrification and hydrogen, with CCS for only the biggest plants.

At best, CCS will be one of many solutions. To call it the only way to protect our industrial heartlands is grossly misleading and ignores the fact electrification will decarbonise more than half of the UK's industrial activity.

Electrification will also be far cheaper for business and the public.

But we don't need a 'renewable' fuel that's not really renewable to meet our renewable energy goals.

For the detail this deserves read the full report here: www.e3g.org/publications...

And follow @e3g.bsky.social @susieelks.bsky.social @edmatthew.bsky.social @elliemaeohagan.bsky.social