The UK’s geography can help it maintain stable energy prices, according to the Energy Minister.
Charles Hendry has said that as an island, the UK’s access to offshore wind and tidal power as well as fossil fuels will ensure energy independence.
He told ELN: “We’re in a position where, as an island, we can have that energy mix. We can use our own renewable resources, we can develop coal with carbon capture, we can have new nuclear, we can have gas as part of the mix as well.
“The best way of avoiding horrible price spikes for the consumer is that energy mix, to ensure that we can’t ever be held to ransom by one particular technology.”
On the question of public tolerance for subsidies in offshore wind power, Mr Hendry said: “The public want a balanced energy portfolio. If you look at the way in which a wind turbine is built, the capital costs of it, which is the cost up front of it, this isn’t a cheap way to be, but you don’t know what the price of gas is going to be, we don’t know where the market is going to be in twenty years’ time.”
Mr Hendry was attending the launch of a new gas station at Staythorpe in Newark.