Greens Drive British Electricity Costs Through the Roof

Electricity prices in Great Britain are slated to rise by 30%, becoming among the highest in Europe, as a result of government-imposed “green” initiatives:

Sweeping energy market reforms due to be unveiled by the Government on Tuesday will make UK electricity bills among the highest in Europe, say analysts. Chris Huhne, the Energy Secretary, is likely to say that energy companies, such as Centrica and EDF, will get a fixed price for electricity generated from nuclear power and wind farms which is higher than the market price. …

The financial incentives will be funded by consumers, who will see their electricity bills rise by 30pc during the next 20 years from £493 per year to £655. This estimate was made before electricity bills soared to their highest ever for millions of customers after 10pc to 15pc price increases by British Gas and Scottish Power in the past weeks.

However, ministers have decided to push through the costly package to make sure EDF, Centrica, RWE, E.ON, Scottish Power and Scottish & Southern think Britain is an attractive place to build nuclear power stations and wind farms. The UK needs to reduce its carbon dioxide emissions from power generation to hit European Union targets. …

Combined with further green taxes, such as the European emissions trading scheme, and extra upgrades to the UK’s electricity network, the measures could see Britain’s gas and electricity bills rise more like 50pc – or £500 – according to Ofgem, the energy regulator.

This is what the environmentalists have in mind for us, too. The ostensible purpose of these schemes to soak the public is the need to reduce carbon emissions, an essentially bogus claim. What is really going on is that enormous amounts of money are being made by companies who find it easier to lobby the government than to compete on price. Consumers, as usual, are being stuck with the tab.

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