Gov U-turn to add ££££’s on energy bills

According to a new report by the independent Committee on Climate Change (CCC) the average UK household could see annual energy bills rise by £8,000 if recent Government u-turns on CO2 reduction go ahead.

Key to the new findings are the decision by George Osbourne to delay new cuts in carbon emissions by 10 years – to 2030. The CCC estimate this will cost the UK economy an additional £100 billion because, as is well known, the earlier we tackle climate change the cheaper and vice versa.

If expected increases in fossil fuel prices occur the cost soars to £200 billion.

“This report shows the clear economic benefits of acting to cut emissions through the 2020s. This provides insurance against the increased costs and risks of climate-related damage and rising energy bills that would result from an alternative approach to reduce and delay action.” – Lord Debden, CCC chairman.

But, don’t just take  the CCC’s opinion (although they are the official body setup by the Government in response to the Climate Change Act 2008) as 100 major companies have also called upon Osbourne and Cameron to stick to the original plan. Signatories include Sainsbury, Asda, Ikea, O2, Nestle and Unilever.

Speaking for the group, Lord Adair Turner, a former director-general of the CBI, said:

“The majority of the business world is clear that ambitious and stable action to tackle climate change makes business sense. A stable policy environment is critical to attracting investment in the low-carbon sector.”

Instead, subsidies for renewables are being cut and tax breaks awarded to anyone wanting to invest in ‘fracking’. So the ‘cut’ of £50 off domestic energy bills announced last week should perhaps be viewed as nothing more than a pre-election ‘bribe’ because the warning from the CCC is clear..

Not acting fast enough to tackle climate change will cost each and every one of us dearly in the long run.