The Race To Net Zero.

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ANDREW NEIL: Starmer wants to tell us what to eat, what to drive and how to heat our homes. His climate change obsession will be his downfall | Daily Mail Online

WWW.DAILYMAIL.CO.UK

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The Prime Minister went in person and mob-handed to impress on everybody how Britain 'leads the world on climate...

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The Institute of Fiscal Studies calculates household bills will soon rise by another £120 a year in green levies to subsidise the expansion of renewable capacity. Labour politicians must have known at the time that the promised cut was mission impossible.

The extra £1 billion for offshore wind Starmer is so proud of is a mere drop in the North Sea compared to what is required to meet Labour's target of decarbonising the electricity system by 2030. Tens of billions more will be required in wind turbines and solar panels – and tens of billions more on top of that to build pylons and cables for a national grid which will need to be reconfigured to carry renewables, which are intermittent and unreliable.

The consumer – households and business – will bear the cost. The UK already has some of the highest electricity prices in the developed world to finance subsidies for renewable energy. They are about to get higher. This week the Beatrice Offshore Wind Farm in the Moray Firth became the fourth UK wind farm to collect more than £1 billion in subsidies. It will rake in about £2 billion in the course of its 15-year lifespan.

The Office for Budget Responsibility calculates that subsidies for renewables will add £12 billion to fuel bills for this year alone – and that's before we include future renewable subsidies and the £100 billion needed to upgrade the national grid for decarbonisation. No wonder industry is either closing down or fleeing to America, where energy prices are a fraction of Britain's.

 

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