The Rest Is Money 164. The Great British Energy Crisis
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Apr 27, 2025 Jonathan Brearley, CEO of OFGEM and former climate strategy leader, dives into the UK’s energy crisis. He discusses why energy costs are soaring and whether the wealthy should pay more. The conversation highlights the push for renewable energy, pricing strategies, and the crucial role of nuclear power. Brearley also addresses the impact on small businesses and emphasizes the need for technological innovation to tackle affordability issues. The focus on energy self-sufficiency and customer support systems provides a glimpse into a resilient energy future.
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Use Fixed-Price Contracts
- Build more renewables on fixed-price contracts to reduce exposure to gas price fluctuations.
- Long-term contracts for renewables decouple their prices from volatile gas prices.
Zonal Pricing Debate Nuances
- Zonal pricing could lower costs where renewables are abundant but risks investment uncertainty.
- The debate requires nuanced solutions balancing efficient location and investor confidence.
Nuclear’s Role in Future Energy
- The UK will have nuclear as a part of its energy mix in 10 years, including big plants and potentially small modular reactors.
- Small modular reactors have great future potential but are still costly and nascent.