H
politics
H
HOYONEWS
HomeBusinessTechnologySportPolitics
Others
  • Food
  • Culture
  • Society
Contact
Home
Business
Technology
Sport
Politics

Food

Culture

Society

Contact
Facebook page
H
HOYONEWS

Company

business
technology
sport
politics
food
culture
society

CONTACT

EMAILmukum.sherma@gmail.com
© 2025 Hoyonews™. All Rights Reserved.
Facebook page

Keir Starmer prepares to miss key green target in effort to keep energy bills down

about 22 hours ago
A picture


Ministers are considering dropping one of their central green pledges in an effort to keep energy bills down, sources have told the Guardian.Government insiders say Keir Starmer is prepared to miss his own target of removing almost all fossil fuels from the UK’s electricity supply by 2030 if doing so proves much more expensive than building gas power instead.The issue will come to a head within weeks as Ed Miliband, the energy secretary, decides how much renewable energy to commission for the next few years.Allies say Miliband is willing to buy less than experts say is needed to hit the 2030 target, if paying for them would push energy bills much higher than their current levels.Concern is growing in Downing Street that the cost of living is fuelling the rise of Reform UK, which leads national polls and is predicted to take the Welsh Senedd seat of Caerphilly in a byelection this week.

One government insider said: “There is a choice about what price you’re willing to pay for the next [renewables] auction round, which is key to hitting 2030.If it comes to a choice between hitting the target and overpaying, or missing it and keeping costs down, we will miss it.”Officials pointed to comments Miliband made last week, when he told an energy industry conference: “We won’t buy at any price.And if specific technologies aren’t competitive, we will look elsewhere.We will take the long-term decisions to secure the right amount of capacity at the right price for the country.

”Starmer committed to hitting the clean power target last year in his “plan for change”.The prime minister said at the time the plan would “make Britain a clean energy superpower and accelerate to net zero”.Experts say that hitting the target would require Miliband to commission a record 8 gigawatts of new electricity generation at the current auction round.The government sets subsidy levels by asking renewable companies to bid and then commissioning whichever projects promise the cheapest clean energy.The energy secretary is in talks with Rachel Reeves, the chancellor, about how much to spend on the commissioning round.

But energy industry insiders say high interest rates and the sheer amount of electricity that needs to be commissioned is likely to push prices beyond what it would cost to build the equivalent amount of gas power.Dieter Helm, professor of economic policy at the University of Oxford, said Miliband was “deluded” if he thought he could bring down energy bills by pushing for clean power by 2030.“The reality is that net zero by 2030 is expensive and that by dashing flat-out towards it, the result will be even higher costs.The price is not coming down; it is going up.”The state-owned energy system operator, NESO, which runs the electricity grid, recently warned: “With a short and shrinking window of time, pace must be the primary goal.

However, this cannot come at the expense of public consent or excessive cost as that would mean the clean power objective would be self-defeating.”A report published on Thursday by the Tony Blair Institute argues the government should drop the 2030 target altogether while sticking to the longer-term net zero commitment.Tone Langengen, the report’s author, said: “Launched in the middle of the gas crisis and in a low-interest environment, Clean Power 2030 was right for its time, but circumstances have changed.”The institute has been criticised for its founder’s links to the fossil fuel industry, but its reports are taken seriously in Downing Street, which is staffed by several of its former employees.Some officials in Downing Street and the Treasury want the prime minister to publicly drop the 2030 target in a sign to both voters and the energy industry that he is not willing to let bills rise, having previously promised to bring them down by £300.

Starmer is resisting this, and is instead understood to be willing to simply miss the target rather than openly disown it.One government aide said: “The prime minister made this the centrepiece of one of his missions.He is not going to drop it now.”Another insider said: “It would be really silly to amend the target publicly – even if we accept the higher risk it won’t be met.”Green experts also warn that ditching the target – either quietly or publicly – would reduce business confidence.

Jess Ralston, an energy analyst at the Energy & Climate Intelligence Unit, said: “Renewables provided around half of our electricity last year, and we have the world’s second largest market for offshore wind,Drastic policy changes could jeopardise that investment and those jobs, like we have seen in the US,”Allies of Miliband insist that even if he does not commission the full 8GW of power in January, there will be other ways to make sure the electricity grid is almost entirely carbon free by 2030,They include building more batteries and encouraging people to use less electricity at peak times in order to reduce the amount of new capacity that needs to be built,However, industry insiders say the 2030 target would be almost unachievable without the extra renewable power they say needs to be commissioned in January.

One said: “There are other ways to make the sums add up, but unless you get close to 8GW of new power in this round, you’re very unlikely to hit the 2030 target.”A government spokesperson said: “The government is fully committed to delivering clean power by 2030 because it is how we deliver a system that can bring down bills for consumers.”Greenpeace UK’s co-executive director, Areeba Hamid, said: “These rumours feel like déjà vu.Starmer folded like a deckchair over the £28bn green investment pledge last year.Another U-turn would be a complete dereliction of duty on climate action from the prime minister.

“Delivering clean power and lowering bills aren’t mutually exclusive.Investing in renewables will cut costs, boost energy security, and deliver stable, homegrown power for the long term.“With COP30 around the corner, caving in on this flagship policy will shatter the UK’s credibility and is likely to have far-reaching consequences for global climate action.”
businessSee all
A picture

Foxtons shares drop sharply after it warns of ‘subdued’ pre-budget sales

The estate agency Foxtons has warned of weak sales for the rest of the year as economic uncertainty and potential property tax changes in next month’s budget deter buyers, sending its shares sharply lower.The London-focused company, known for its green-and-yellow Mini cars, said buyers had been holding off ahead of the budget on 26 November, which is a month later than usual.Slower-than-expected interest rate cuts from the Bank of England are also having an impact by affecting the cost of mortgages, it said. As a result, “sales are likely to remain subdued for the rest of the year”, with a risk that revenues in the fourth quarter could fall below management’s expectations.Guy Gittins, the chief executive who started his career at Foxtons in 2002 and returned to lead the company three years ago, said: “Macroeconomic uncertainty and speculation surrounding the delayed autumn budget has resulted in a subdued sales market as some buyers adopt a ‘wait and see’ attitude to purchases

about 7 hours ago
A picture

Aerospace groups link up to create European rival to Musk’s SpaceX

Airbus, Leonardo and Thales have struck a deal to combine their space businesses to create a single European technology company that could rival Elon Musk’s SpaceX.The deal is expected to create a company with annual revenue of about €6.5bn (£5.6bn). The French aerospace company Airbus will own 35% of the new business, with Leonardo and Thales each owning stakes of 32

about 8 hours ago
A picture

Lloyds profits plunge 36% as it feels impact of UK car finance scandal

Lloyds Banking Group profits have been sent plunging by more than a third by the car loans commission scandal, as the lender steels itself for a surge in compensation payouts to drivers.The high street bank took the 36% hit in the third quarter after putting aside a further £800m to cover the prospective costs of a redress scheme proposed by the Financial Conduct Authority (FCA).The additional charge, announced last week, brings Lloyds’ total compensation pot to £1.95bn.Lloyds is the UK’s biggest car lender through its Black Horse division and is expected to foot the largest bill among its peers

about 10 hours ago
A picture

Thames Water ranked worst supplier in England as firms’ ratings hit record low

England’s water company ratings have fallen to the lowest level on record after sewage pollution last year hit a new peak, with eight of nine water companies rated as poor and needing improvement by the Environment Agency.The cumulative score of only 19 stars out of a possible 36 is the lowest since the regulator began auditing the companies using the star rating system in 2011.Only one company, Severn Trent, achieved full marks. It did so despite having been responsible for 62,085 sewage spills, averaging seven hours each, in 2024.Struggling Thames Water was the only company to be awarded one star for its performance

about 10 hours ago
A picture

Groceries via delivery apps like Uber Eats, DoorDash and Milkrun can be up to 39% more expensive

Convenience can come at a steep price, Choice has found, with Australian consumers paying up to 39% more for groceries ordered through rapid delivery apps.Choice compared in-store prices of 13 common grocery items available at Coles, Woolworths and Aldi with their equivalents on third-party apps Uber Eats, DoorDash and Woolworths-owned Milkrun.They found that items including pasta, milk and fresh vegetables cost on average 11% more on third-party apps and delivery charges of between $5 and $11 significantly drove up bills.Seven out of 13 items at Aldi were priced higher on DoorDash than in store, while Milkrun charged more for 11 out of 13 items from Woolworths.“Not all items are increased in price,” said the editorial director at Choice, Mark Serrels, but “the majority of them are”

about 20 hours ago
A picture

Barclays can afford Tricolor loss but risks remain in the private credit market

“I’m not an entomologist,” said CS Venkatakrishnan, the Barclays chief executive, dodging the question everybody is asking: how many cockroaches are about to crawl out of the woodwork in the private credit market?The good news – sort of – for Barclays is that it had only one insect to point to. A £110m loss from lending to Tricolor, the US sub-prime auto lender that has failed amid allegations of fraud, doesn’t look good but Venkatakrishnan could simultaneously trumpet that Barclays avoided that other rotten private credit beast First Brands. Barclays was asked to lend to the stricken autoparts supplier, but didn’t. JP Morgan, taking its own $170m (£127m) hit on Tricolor, said the same last week.One could regard these developments as mildly reassuring after a week in which both the International Monetary Fund and the Bank of England have warned about risks that may be emerging in the world of private credit, AKA the shadow banking sector

1 day ago
sportSee all
A picture

Tour de France unveils 2026 route with double Alpe d’Huez for men and Ventoux debut for women

about 6 hours ago
A picture

Australia beat India by two wickets in the second men’s one-day international – as it happened

about 7 hours ago
A picture

England win series after washout in final New Zealand T20 but Brook left frustrated

about 7 hours ago
A picture

New Zealand v England: final men’s T20 abandoned – as it didn’t happen

about 9 hours ago
A picture

From monkey elixir to fentanyl: Tyler Skaggs’s death is merely a chapter in baseball’s 136-year drug fix

about 10 hours ago
A picture

The Ravens’ doomsday clock inches towards midnight. Will their season survive?

about 10 hours ago