Green energy to cost households nearly £5,000 a year by the end of the decade

Household gas and electricity bills are expected to rocket fourfold to nearly £5,000 a year by the end of the decade to meet Government-imposed green targets. And the price heavy industry will have to pay by 2020 is so high that energy-dependent firms could be wiped out, causing thousands of job losses, said an industry spokesman. A massive rethink on the cost of 'green energy' is taking place in Whitehall among senior regulators and industry, leading some to question whether the public will be prepared to pay increasingly high bills for the UK to become greener than most countries. Officials at regulator Ofgem now privately admit that a report they issued only last year severely underestimates the cost of cutting carbon emissions by building a new energy infrastructure for the UK. Full article here. Via CCNet

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