Thursday, 10 May 2012

Queen's Speech 2012: energy laws will send bills soaring

Telegraph
"British households will have to cover the cost of the subsidies through their energy bills over the next 20 years. The Government said the main point of the new Energy Bill is to make electricity “secure, affordable and low-carbon”. It will hand millions of pounds per year to energy companies in a subsidy called “capacity payments” simply for keeping their power stations open to back up wind farms. Another subsidy called “contracts for difference” will artificially raise the price of electricity to make it worthwhile for companies to build nuclear power stations."

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