The National Infrastructure Commission’s twice-a-decade report, released this morning, includes some more projections of the costs of net zero conversion. The advisers predict that over £6 billion in expanded subsidies will have to be spent by the state annually on the installation of heat pumps in homes and that the private sector will be forced to cough up £35 billion on “decarbonising” the energy network. That leaves households paying £1450 more at a minimum in taxes or hiked bills every year. Sir John Armitt, who took over as chairman from Lord Adonis in 2017, says that as taxpayers fund these massive projects “we must be open with them about the costs as well as the benefits“. Be honest with voters? How novel.
The row over the actual costs of net zero is growing with government advisers attempting to argue that costs won’t exceed around £1 trillion whereas others claim that’s a massive underestimate. Will politicians level with the public before a general election how much their plans will cost?