Greenest Government Ever: Electricity Prices To Skyrocket
By 2020, environmental charges will account for 33% of electricity bills, and 41% by 2030.
I ran a post a few weeks ago on the Report of the Energy & Climate Change Committee, “Energy Prices, Profits and Poverty”. The Report warned of large hikes in electricity bills looming as a consequence of climate change policies.
Tucked away on Page 59 was a bit more detail, which I reproduce below.
So, to highlight:
1) Environmental charges already account for 11% on electricity bills, and 9% of dual gas/electric ones.
2) These amounts are set to rise sharply in future years.
3) By 2020, environmental charges will account for 33% of electricity bills, and 41% by 2030.
4) This increase will particularly impact electric only households (often fuel-poor).
5) Although two thirds of the extra cost would fall on non-domestic users, these costs would still find their way to domestic users, through higher prices for goods and services [not least higher taxes, as government running costs rise!]
6) These extra costs could also impact on the competitiveness of UK exports.