Sunday, 12 December 2010

Cost of Going Green as Energy Reform Will add £500 a Year to bills

Environmental reforms to the energy market, to be unveiled this week, will result in huge gas and electricity price increases over the next ten years.

Under the changes, householders will have to pay an extra £500 a year by 2020 effectively to subsidise the cost of new nuclear power plants and wind energy.

The Government is also expected to propose capacity payments for low-carbon electricity generation. This would reward companies for making their electricity generation capacity available to the grid, even if it is just as a back-up.

It is also expected to stop the building of new coal-fired power stations unless they are equipped with carbon-capture technology.

These measures will cost money. Britain now pays about £1 billion a year in subsidies for renewable energy, which adds about £80 to a typical household's annual bill.

Energy experts say that propping up nuclear and renewable energy could cost every household more than £500 a year by 2020.

full article

1 comment:

Double Glazing said...

Energy efficiency is a great way to save money and care for our environment.Discoveries of many ways like on what we used especially at home is a big addition to promote more of it.