“Last week gas prices soared to record highs and there’s no signs of them falling anytime soon. Prices have surged as the world has emerged from the pandemic; they are now trading at around four times the average of the last decade.
In the short term, there is a continued role for gas in our energy ecosystem, even as we reduce our dependence on it. We need to shore up our supplies and increase the resilience of our access to gas from the North Sea and reduce our reliance on foreign powers to meet our energy needs.
“In the longer run, we need new nuclear capacity. This will replace capacity set to be taken offline over the next decade and ensure we have a stable flow of low-carbon generation.”
You can read the full column here.