Electricity prices in the UK have tripled in the last 30 years, according to a newly published report.
Global Warming Policy Foundation author Harry Wilkinson shows how net zero policies are mostly to blame, with the projected cost of achieving net zero by 2050 running to an eye-watering £10 trillion (€11.9 trillion), using current technologies.
Even with some key predicted technological breakthroughs, such spending would be unlikely to dip below the £6 trillion (€7.1 trillion) mark. In comparison, real U.S. electricity prices have remained flat in the same period.
Key explanations include new renewable energy subsidies being ‘locked in’ (guaranteed) and various carbon taxes, with both costs being passed on through electricity bills. Sustainability sceptic Bjorn Lomborg estimates that if UK electricity prices were still at 2003 levels, the annual savings to the country would be £59 billion.
Despite the obvious disadvantages of net zero, Labour and the Tories remain in thrall to its destructive ideology.
