The blame for rising energy bills can be placed squarely on gas. Politicians, climate activists and energy experts have mainly reacted to the increased energy costs by advocating for an energy transition. They highlight the lower prices and energy security benefits of renewables, such as wind and solar power, compared to gas. The reality, however, is a little different, as parts of Europe plan to increase rather than decrease their reliance on gas.
Data from the analytics firm GlobalData shows that some 90GW of new gas-fired electricity capacity is in the pipeline across Europe, around 20GW of which is already under construction. In the UK, as much as 30GW of new capacity is being proposed, although only a small share has been approved for development. If given the green light this would be a significant amount of gas: the UK’s entire electricity capacity was 76GW in 2020.
Content from our partners
