Wind power has cut 104bn from UK energy costs since 2010, study finds

"Research by University College London found that from 2010 to 2023, energy from windfarms resulted in electricity bills being lower by about 14.2bn than they would have been if gas had been needed to generate the same amount of power. However, the reduction in the cost of gas that could be attributed to wind generation owing to the cut in demand and not needing to build new infrastructure was much greater, at about 133.3bn."

"Over the same period, consumers paid about 43.2bn in green subsidies, levied on electricity bills rather than gas bills. The net result was a reduction of 104.3bn in UK energy bills over the 13-year period, according to the researchers. Surging renewable energy generation across Europe made demand for gas and thus gas prices lower than they would otherwise have been, and meant electricity companies had less need to build costly new gas-fired power stations, according to the analysis."

"Far from being a financial burden, this study demonstrates how wind generation has consistently delivered substantial financial benefits to the UK. To put it into context, this net benefit of 104bn is larger than the additional 90bn the UK has spent on gas since 2021 as a result of rising prices related to the war in Ukraine. This study demonstrates why we should reframe our understanding of green investment from costly environmental subsidy to a high-return national investment."

Wind generation reduced UK energy bills by about £104.3bn between 2010 and 2023. Windfarm electricity lowered electricity bills by about £14.2bn compared with equivalent gas generation, while reduced gas demand and avoided gas infrastructure cut gas costs by about £133.3bn. Consumers paid about £43.2bn in green subsidies charged on electricity bills. Increased renewable generation across Europe depressed gas demand and prices and reduced the need for new gas-fired power stations. The UK market structure allows gas-fired plants effectively to set electricity prices. The 2010–2023 calculation excludes the early-2022 gas price spike following Russia’s invasion of Ukraine.

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