When it comes to addressing the trilemma of energy policy in the UK (net zero, energy security and customer affordability), there are three overall policy approaches. “Policy option 1” is about setting targets: pick a year by when net zero is to be achieved, and then do whatever is necessary to get there. “Policy option 2” is the other way around, looking at what can be afforded and then at what can be achieved with the available pot of money.

There is a third set of more extreme options of stopping oil and gas now, or just assuming that science and technology will eventually solve the problem. Both are dangerous.

What is now needed is a rational debate and honesty. Politicians need to engage in an open conversation with citizens and to work out how to maximise the benefits from what can be afforded, by making hard choices between the options.

Three energy policies

Helm Talks is full of short, 'pull no punches' insights into:
Energy & Climate; 
Regulation, Utilities & Infrastructure; 
Natural Capital & the Environment.

Professor Dieter Helm is Professor of Economic Policy at the University of Oxford.

New tracks tagged #policyapproaches