British Gas Boss Says Renewables Will Not Bring Electricity Prices Down

The UK government claims its goal to decarbonize the whole economy will lower the cost of electricity and lower bills.

Chris O'Shea, group chief executive of Centrica, speaks to the media at the Scottish Gas Academy in Hamilton, Lanarkshire, Scotland, on July 7, 2023. Andrew Milligan/PA Wire

Britain’s shift to renewables will not reduce electricity prices, the boss of British Gas has said.

Chris O’Shea, the chief executive of British Gas’s parent company, Centrica, wrote on the social media network LinkedIn on May 12 that the shift to renewable power “will not materially reduce UK electricity prices from current levels.”