The Great Energy Price Myth: Why We’re Being Sold a Lie
There’s a narrative circulating in the UK right now that’s as dangerous as it is misleading: soaring energy prices are the fault of renewable energy and net-zero policies. Personally, I think this is one of the most insidious pieces of misinformation in recent memory. It’s not just wrong—it’s a deliberate attempt to shift blame away from the real culprits. Let me explain why this matters, and why it’s so much more than just a political squabble.
The Blame Game: Renewables vs. Reality
One thing that immediately stands out is how neatly this narrative aligns with the interests of fossil fuel advocates. Right-wing politicians, think tanks, and billionaire-backed media outlets are pushing the idea that renewables are driving up costs. But here’s the kicker: renewables are actually the cheapest component of our energy mix. Wind and solar power are far less expensive than fossil gas, yet they’re being scapegoated for price hikes. What many people don’t realize is that the price of electricity is almost always set by the most expensive source in the mix—fossil gas. This is due to a system called ‘marginal cost pricing,’ which means even though renewables dominate our supply, gas still calls the shots on pricing.
If you take a step back and think about it, this system is fundamentally flawed. It’s like letting the most expensive item in your shopping cart dictate the total bill, even if the rest of your groceries are on sale. What this really suggests is that the problem isn’t renewables—it’s our overreliance on gas and the outdated pricing mechanisms that prioritize it.
The Gas Trap: A Global Perspective
What makes this particularly fascinating is how the UK’s situation compares to other countries. In Norway, for example, gas sets the price of electricity just 1% of the time, thanks to their heavy reliance on hydropower. Meanwhile, in the UK, gas dictates prices 98% of the time. This raises a deeper question: why are we so dependent on a volatile, expensive resource when cleaner, cheaper alternatives are available?
From my perspective, the answer lies in the power dynamics of the energy industry. Fossil fuels are concentrated in the hands of a few corporations, giving them immense control over prices. Renewables, on the other hand, are decentralized and harder to monopolize. This is why the fossil fuel lobby is so desperate to discredit them—their profits depend on maintaining the status quo.
The North Sea Illusion
Another detail that I find especially interesting is the push to ‘maximize’ North Sea gas extraction. Proponents claim this will lower prices, but this is a classic case of wishful thinking. The UK’s remaining gas reserves are expensive to extract, and even if we tapped every last drop, it wouldn’t lower international gas prices by a penny. The market is global, and the UK’s contribution is a drop in the ocean.
What’s more, we’ve already used up most of the North Sea’s reserves. The real tragedy here is that the profits from past extraction could have funded a sovereign wealth fund, like Norway’s, to invest in public services. Instead, thanks to neoliberal policies, those profits went straight into private pockets. It’s a missed opportunity that continues to haunt us.
The Bigger Picture: Who Benefits?
If you ask me, the entire debate about energy prices is a distraction from the real issue: who controls our resources. Fossil fuels are a high-profit, low-competition industry, which is why the ultra-rich are so invested in them. Renewables, by contrast, are competitive and low-profit, making them less appealing to those who thrive on monopolies.
This isn’t just about energy—it’s about power. The same forces that push fossil fuels are the ones that resist progressive policies, whether it’s net zero or social welfare. What this really suggests is that the fight over energy prices is a proxy for a much larger battle over the future of our economy and society.
A Way Forward: Rethinking the System
In my opinion, the solution isn’t to abandon renewables or double down on fossil fuels. It’s to overhaul the system itself. We need to move away from marginal cost pricing and invest in better energy storage and grid infrastructure. This would reduce our reliance on gas and make renewables even more effective.
But here’s the challenge: this requires political will and a willingness to challenge entrenched interests. As long as the fossil fuel lobby and its media allies dominate the narrative, real change will be an uphill battle.
Final Thoughts
What many people don’t realize is that the energy price crisis isn’t just an economic issue—it’s a moral one. We’re being sold a lie to protect the profits of a few at the expense of the many. If we want a fairer, more sustainable future, we need to see through the propaganda and demand better.
Personally, I think this is one of those moments that defines us as a society. Will we let misinformation and greed dictate our energy future, or will we push for a system that works for everyone? The choice is ours—but time is running out.
