Coalition ‘Energy Bill’: Consumers To Pay Up To £100 More For Green Power

Coalition ‘Energy Bill’: Consumers to pay up to £100 more for green power

Written on:November 23, 2023

The Energy Bill intends to attract investment, worth billions of pounds, for green energy in the UK

The Coalition government’s ‘green energy policy’, which has been in the works for long, has been finalised, which could signify that an additional £100 would be added to consumers’ electricity bills by 2020 for using green energy such as wind farms.

The ‘green energy policy’ of the Coalition will treble the costs imposed on energy bills from £2.35bn a year to £7.6bn. The movement for clean energy or environmentally friendly energy could add a projected £178 a year to electricity bills by 2030, before adjusting for inflation, as per experts.

The officials have stated that, while the consumers will shell out more money towards green energy strategies, they will also save cash via enhanced energy efficiency at home.

UK’s ageing electricity structure requires £110bn in the next decade to undergo rejuvenation. Much of this cash is likely to be employed to construct ‘low carbon’ power sources such as wind and solar farms so that carbon emissions can be diminished and the lights can be kept on.

Nonetheless, the green energy policy, arrived at by the Coalition, has riled the environmental activists. The reason behind their dissatisfaction is the forthcoming Energy Bill, which doesn’t include a ceiling for the quantity of carbon dioxide, which can be released per megawatt hour of power from the electricity sector by 2030.

John Sauven, the Greenpeace executive director, has remarked that PM David Cameron has succumbed to the militant Conservatives by not setting a carbon limit for the power sector until after the 2015 election. John Sauven has lambasted the Coalition for this move, voicing that it is a brazen attack on the greening of the UK economy.

Thus, consumers could be susceptible to towering gas prices. Billions of pounds worth ‘green investment’ could travel to the UK’s economic competitors, warned Sauven.

The Coalition deems that the aim of supplying 30% of UK’s electricity from renewables by 2020 can be met as a ‘spending level’ has been agreed for ‘low carbon power’ subsidies.