Consumers Face £250 Billion Bill For Green Energy & Climate Policies
Consumers will be expected to meet at least £250 billion of the cost of modernising Britain’s infrastructure in rising household bills, MPs say today.
The Public Accounts Committee calls on the Government to assess whether householders can afford years of higher energy, water and transport bills to pay for the replacement of the country’s ageing infrastructure.
The MPs warn in particular that uncertainty caused by some Government policies could add to rising energy bills as investment in new power stations is delayed and little urgency is given to replacing coal-fired plants.
Margaret Hodge, PAC chairman said a “staggering” £375 billion of investment was in the pipeline to replace infrastructure projects over the next fifteen years as well as meeting climate change targets and demographic growth.
“It is the consumer – through their various bills – that is expected to fund at least two thirds of this investment where the infrastructure is financed, built, owned and operated by private companies,” she said….
“No one in Government is taking responsibility for assessing the overall impact of this investment on consumer bills and whether consumers will be able to afford to pay,” said Mrs Hodge.