FT: “Green policies will add 41 per cent to electricity prices by 2030 – according to the energy department’s own forecasts. Policies to promote low-carbon energy include a guaranteed “strike price”, expected to be announced within days, to support EDF’s proposed new nuclear reactors at Hinkley Point in Somerset – at double the market price.” “Green policies currently account for only a small part of consumer costs – typically less than 10 per cent of average household energy bills. But that proportion is set to rise steeply, according to the government’s own forecasts. Measures to support green power and increase energy efficiency will add 33 per cent to the price of electricity by 2020 and 41 per cent by 2030, according to the Department of Energy and Climate Change.
….More efficient appliances alone are forecast to cut £167 from a typical £670 electricity bill by 2020. This would mitigate the inflationary impact of green subsidies.”
Future Today
