Net Zero electricity taxes and levies are set to cost British consumers almost £100 billion over the next six years, according to the latest official figures from the Office for Budget Responsibility (OBR). The ‘environmental levies’ total includes a variety of green rackets from paying suppliers to produce uneconomic energy to persuading consumers to install inferior technologies. As the insane dash towards Net Zero continues in elite political circles, the costs have started to spiral out of control.
Almost all green technologies seem to require huge amounts of public subsidy with no end in sight to constant demands for cash. Recently, offshore wind generators refused to take further Government licences in the North Sea unless the U.K. Government complied with their demands for higher guaranteed prices. In real terms the Government is now prepared to pay over £100 per megawatt hour, a price more than the current estimated cost of gas-powered electricity.
The investigative climate journalist Paul Homewood has been digging into the figures for years, and notes the offshore wind business is already being subsided to the annual tune of £4.8 billion. This despite the fact that we have been promised ‘rapidly falling’ wind power costs that would bring our bills tumbling down. “Now we know that was always a lie,” observes Homewood. Looking at the financial accounts, Homewood concludes that there is “no prospect” that costs will decline in future. On the contrary, he continues, they are likely to continue increasing as supply chain and manufacturing problems mount.