As the energy price cap rises today, CLES Senior Researcher, Ellie Radcliffe, reflects on her recent visit to the Apse Big Energy Summit and considers the role of local authorities in balancing climate and economic justice.
Nearly three years since three hundred local authorities began to declare climate emergencies, the removal of the energy price cap today arrives as the Big Six energy companies have recorded over a billion pounds of profits. This is just part of the picture, with oil and gas giants BP and Shell spending over £147 billion in stock buybacks and shareholder dividends since 2010 – seven times more than what would be needed to keep households’ energy bills at a manageable level.
“we need an approach to decarbonisation which changes the fundamental building blocks of economies”
Such profiteering hits to the heart of why we need an approach to decarbonisation which changes the fundamental building blocks of economies, making them work for ordinary people and our places, as well as the planet. At CLES, we advocate for community wealth building as a pathway towards this just transition, with local government at its heart.