August 31st, 2009
Expensive Energy
In a bid to reduce Britain’s dependency on fossil fuels such as coal, gas and oil the government has introduced its Renewable Energy Strategy.
Heavily weighed down by its promise to reduce CO2 emissions by 34% by 2020 and 80% by 2050, the government is poised to invest £100 billion into a renewable energy infrastructure, including 7,000 wind turbines by 2020.
All well and good, but the increased cost to the consumer could result in many households facing fuel poverty. It is anticipated that bills will have to rise by 20% to pay for this investment. The average household currently pays approximately £1,150 a year for electricity and gas, the cost of converting to renewable energy and modernising Britain’s power stations could add another £230 to this.
Too bitter a pill to swallow? Then be aware that in all likelihood, as things stand our energy prices will increase anyway, so it’s crucial to make a positive change before it’s too late.