Guido Fawkes
Energy Secretary Ed Davey has today unveiled eight new major renewables projects which he says will be funded by £12 billion of private sector investment to “boost green growth and green jobs“. Renewable
projects are guaranteed a price for the power they produce, meaning
that the difference between the guaranteed price and the price on the
market is subsidised by the taxpayer. Guido has been crunching the numbers to work out how much the subsidy for these new projects will cost taxpayers overall. ........
Overall, that is a total subsidy of £1.4 billion per year.
Davey said today that the new contracts for renewable projects will
support 8,500 green jobs. At £1.4 billion, that amounts to £167,000 per
green job. Or green crap as the PM likes to call it."
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