Thursday, December 16, 2010

UK Energy Bills Could Double to Pay for Green Power as Ministers Plan Minimum Carbon Price

Energy bills are set to rocket to pay for wind turbines and wave power as the Government announces a shake-up of ­electricity prices today.

Energy and Climate Change Secretary Chris Huhne is paving the way for a minimum price for carbon generated by coal-fired and gas-fuelled power stations.

Energy firms will have to stump up for the cost of the carbon they use – but they are set to pass the burden on to consumers.

Proponents of the scheme insist the carbon ‘floor price’ is meant to reflect pollution caused by fossil fuels, and will encourage investors to pour their money into ‘green’ energy instead.

But experts warned it could lead to a doubling of energy bills, hitting the poor and elderly the hardest.'


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