Investment in gas 'could help cut carbon' - 11/06/2012
Building more new gas-fired power stations in the UK could help more people get cheap energy by freeing up resources for efficiency measures.
This is according to a study by Policy Exchange, which noted that as well as enabling energy suppliers to fund more home insulation schemes, the extra cash saved by going down this route could be used to help cut emissions.
As the fossil fuel is currently cheaper than many renewable alternatives, the think tank estimated between £700 and £900 million a year could be saved by investing in the power source.
Head of environment and energy at Policy Exchange Guy Newey said: "Allowing the market to invest in gas as a transition fuel frees resources that could be used to boost innovation in promising zero carbon technologies."
However, he added it must be a "transitional fuel" with a binding emissions cap to give greater long-term certainty to investors.
A recent report from the International Energy Agency stated the world could be on the cusp of a "golden age of gas" due to greater exploitation of shale reserves, which could bring prices for the commodity down.
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