Labour says UK must 'double-down' on Net Zero after Iran crisis causes energy shocks

In response to the recent energy market shocks caused by the Iran crisis, the Labour Party has pledged to intensify its commitment to Net Zero initiatives. Business Secretary Peter Kyle emphasized that increasing the deployment of renewable energy sources like wind and solar is essential for reducing the UK's dependence on unstable oil and gas imports. The energy market has seen significant price surges, with European gas prices up by 80% and oil prices rising nearly 20%, raising concerns about potential cost increases for consumers.