"Sir Tony Blair has urged Energy Secretary Ed Miliband to ditch his 2030 clean power target and cut green levies as his think tank warns that current climate policies are driving up costs for homes and businesses. A new report from the Tony Blair Institute (TBI), personally approved by the former prime minister, claims the government's commitment to fully decarbonise the electricity grid by 2030 is "destroying industry" and "damaging households.""
"The TBI report argues that green levies now make up 20% of the average electricity bill, up from just 8.5% in 2015, and that policy costs now exceed the cost of actual electricity for the average household - £334 versus £324. It also warns that the cost of connecting Britain's new offshore wind farms to the grid will exceed the cost of the turbines themselves, with the required pylon and substation infrastructure set to cost £112 billion."
Sir Tony Blair urged Energy Secretary Ed Miliband to abandon the 2030 clean power target and reduce green levies. The Tony Blair Institute warns that full decarbonisation of the electricity grid by 2030 is harming industry and households. Green levies now account for 20% of the average electricity bill, up from 8.5% in 2015, and policy costs (£334) exceed actual electricity costs (£324) per household. Connection infrastructure for new offshore wind is projected to cost £112 billion, potentially exceeding turbine costs. The stance warns of voter drift toward populist parties unless affordability is prioritised.
Read at Business Matters
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