• UK businesses pay 45% more for electricity than the G7 average.
  • Back the North Sea: resume licensing, replace the Energy Profits Levy with a stable ten-year regime, and prioritise Rosebank and Jackdaw.
  • Keep the Climate Change Act and the 2050 target, but give it the clear roadmap investors and industry need.

The Price of Power: An Energy Plan for Growth sets out Prosper UK’s plan to reduce the price of electricity without abandoning the UK’s climate commitments.

The paper argues that the climate target itself is not what makes UK power expensive. It identifies a wholesale price set by imported gas, a grid not built to manage renewables and retired subsidy schemes that still sit on electricity bills as central problems that need to be addressed.

Prosper UK’s approach is built around a more secure and investable energy system: renewables because they are the cheapest new power to build, nuclear and other firm capacity for when the wind does not blow, and domestic gas from the North Sea for as long as it is needed.

An energy plan for growth

  • Keep the clean power target at 2035 rather than bringing it forward to 2030.
  • Resume North Sea oil and gas licensing and give the sector long-term certainty.
  • Replace the Energy Profits Levy with a stable tax regime for ten years.
  • Approve Rosebank and Jackdaw as a priority.
  • Keep the Climate Change Act and the 2050 target, with a clear and credible roadmap for how the UK gets there.
  • Focus on renewables, nuclear and firm capacity while reforming the grid so new generation and major users can connect.
  • Give investors greater policy stability so the rules do not change with every minister or change of government.

Keep the Act, write the plan

Prosper UK shares the view that power is too expensive and that nuclear, firm capacity and the North Sea have been neglected. The paper also argues that the UK’s 2050 target needs a practical roadmap.

It does not support scrapping the Climate Change Act. More in Common polling from June 2026 found that Conservative voters backed existing net zero policies by 54% to 38%.

The paper argues that a stable long-term framework matters for both affordability and investment. It also warns that the boats, engineers and companies now leaving Aberdeen are part of the industrial base that the offshore wind sector will need in future.

Read the full report

Download Prosper UK’s report: The Price of Power: An Energy Plan for Growth.

Read the report