By Paul Homewood
London: 16 August 2024Net Zero Watch warns of years of rising electricity bills
Net Zero Watch has warned that Labour’s plans for the electricity system mean that consumers face years of rising bills. Analysis by the campaigning organisation indicates that consumers could be paying over £500 per year extra.
The staggering increase is due to the Government’s plans to vastly increase renewables capacity, the cost of which far outweighs any possible savings from reductions in fuel usage in gas-fired power stations.
And Net Zero Watch is warning that government plans for a major deployment of floating offshore wind will make the situation even worse.
Net Zero Watch director Andrew Montford said:
Mr Montford said:
Notes to editors
The analysis is set out in arecent posting at the Net Zero Watch website.
Floating offshore wind has levelised costs of well over £200/MWh. Developers of new capacity are being offered £240 in the current renewables auction.
The impact on consumers would be felt partly through electricity bill increases, and partly through cost of living increases.
