A new report from the Institute of Economic Affairs (IEA) shows the UK’s electricity system costs are on track to more than double by 2030. The equivalent of adding £700 to the average household bill even if – and it’s a big if – gas prices remain static…
According to the IEA, total subsidies and grid integration costs for renewables will soar from £19.8 billion in 2024/25 to a whopping £40.1 billion in 2030/31 on the government’s current plans.
David Turver, energy expert and author of the IEA’s ‘The Cost of Net Zero’, said:
“The UK already has the most expensive industrial electricity in the developed world, and official forecasts show it is going to get significantly worse. The idea that building more wind and solar will bring bills down is just wrong. Grid integration costs alone are set to rise by £17 billion by 2030, dwarfing any savings from lower gas prices.
“The opposition proposals to scrap AR7, end the Renewables Obligation and abolish carbon taxes are welcome, but they do not go nearly far enough. Even if every one of those pledges were delivered in full, electricity system costs would still be £8.2 billion above today’s levels by 2030…”
Even Blair is pushing against Labour’s Net Zero dogma. The odds of Miliband listening are next to nothing…
Batting away critical points from Nick Robinson on the Today Programme, Tony Blair said:
“I always used to say the greatest source of election-losing advice was the Guardian.”