Energy losses could halve in net zero system

The cost of energy losses in a net zero system in the UK would be half what they are today, according to a new report.

A more electrified and efficient energy system would see losses fall from £60bn to £30bn, the Climate Change Committee (CCC) found.

It also estimated that the cost of net zero by 2050 would be less than a single fossil fuel price shock.

In all scenarios the CCC looked at, achieving net zero was found to be a more cost-effective path for the UK economy than continued reliance on fossil fuels, bringing a net benefit to society. 

Nigel Topping, Chair of the CCC, said: “In light of current world events, it’s more important than ever for the UK to move away from being reliant on volatile foreign fossil fuels, to clean, domestic, less wasteful energy.”