UK energy bills will soar
THE UK’s energy bills could rise by 17 per cent over the next decade as a result of government plans announced yesterday to generate one third of the country’s electricity from renewables by 2020.
Energy secretary Ed Miliband presented a white paper setting out the government’s plans to also cut carbon dioxide emissions by 34 per cent from 1990 levels by 2020.
He said the government planned to set aside hundreds of millions of pounds to finance the growth of alternative power sources like wind and wave, as well as nuclear energy.
He added the proposals would strengthen Britain’s energy security by curbing its reliance on imported gas, and could lead to the creation of 400,000 new “green jobs” by 2015.
However, large industrial users worry that energy cost hikes could make British manufacturers uncompetitive.