Energy bills will remain significantly higher for at least the next six years.
That’s according to a new analysis by Cornwall Insight, which suggests this is due to the ageing of gas-fired power stations and delays in building new nuclear plants.
The cost paid to electricity generators to maintain a stable supply will be at least £51 per kilowatt annually until the end of the decade.
Currently, this rate is £18 per kilowatt.
The capacity market scheme pays subsidies to conventional power stations to stay open as a backup for renewable energy suppliers, securing most of the needed energy four years in advance.
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor. He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino.
Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.
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