Capacity Market: Are the UK's £350m of gas power subsidies compatible with net zero goals?

clock • 6 min read
Energy giant Drax won contracts to build three new gas units in the latest Capacity Market auction
Image:

Energy giant Drax won contracts to build three new gas units in the latest Capacity Market auction

1.4GW of new gas power won £350m of funding in the government's latest Capacity Market auction, held last week, sparking concern among campaigners

The UK government's decision to invest £350m in support of the construction of new gas power stations through back-up supply contracts that run up to 2040 risks undermining the UK's net zero transition...

To continue reading this article...

Join BusinessGreen

  • Enjoy exclusive news, insights and analysis from Europe’s leading source of information on the green economy and business.
  • Make smart, responsible business decisions with an eye on the latest regulatory and tech developments
  • Stay in the know with our overnight briefing, expertly curated help you run a competitive and sustainable business
  • Tap into our extensive archive of exclusive articles, news, analysis and guides
  • Choose from 3 paid membership levels or start a 7-day no strings trial

Join now

 

Already a BusinessGreen
member?

Login

More on Energy

Nina Skorupska

Outlook on 2022: The last throes of resistance to the energy transition

2021 was a year like no other for renewables, and 2022 looks set to be another historic year, writes REA chief executive Nina Skorupska

Nina Skorupska, REA
clock 29 December 2021 • 5 min read
A Nordic energy giant shows how a carbon turnaround happens

A Nordic energy giant shows how a carbon turnaround happens

Offshore wind energy powerhouse Orsted demonstrates that a pivot away from fossil fuels is possible

Bill Spindle and Milo McBride, GreenBiz.com
clock 24 December 2021 • 4 min read
Fuelling the transition: How investors can really move the dial on sustainable energy

Fuelling the transition: How investors can really move the dial on sustainable energy

Investors need to look carefully at how this capital is allocated towards renewables in order to maxmise the impact, writes Octopus Group co-founder Chris Hulatt

Chris Hulatt, Octopus Group
clock 23 December 2021 • 5 min read