Net Zero Has Tripled Electricity Prices Over 30 Years – Guido Fawkes

NEW REPORT: Net Zero Has Tripled Electricity Prices Over 30 Years

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The Global Warming Policy Foundation has released a new report revealing UK electricity prices have tripled over 30 years, mostly thanks to net zero policies. Compared to the US, which has seen flat real electricity prices over the same period…

The report by Harry Wilkinson explains how prices are only set to rise from here:

• Achieving net zero by 2050 could cost £10 trillion with current technologies. Even if technology costs drop, the total cost could still be as high as £6 trillion, according to Net Zero Watch figures.
• New renewable energy subsidies are locked in, leading to projected consumer cost increases of 20% by 2030 – from £13.3 billion to £15.8 billion. Combined with carbon taxes, these charges now account for 25% of domestic electricity bills, compared to 14% in 2015. Wholesale electricity cost makes up 28% of bills…
• According to Impact Data Metrics, bringing homes up to EPC rating C or better will cost £6,220–£11,120 per home, totalling nearly £120 billion for all UK households. Even this won’t be sufficient to reach the full net zero target…
• Many official models fail to account for “Dunkelflaute” periods (extended low wind and solar output) and entire wind drought years, meaning the quantity of electricity generation and storage required in 2050 has not been calculated correctly.
• Ban on new oil and gas licenses threatens hundreds of thousands of jobs, reduces tax revenue (UK raised £5 billion from the North Sea in 2023/24), and increases import costs (£66 billion spent on oil and gas imports in 2024). Over 40% of UK energy is now imported, worsening Britain’s balance of payments and resulting in large tax revenues for foreign exchequers….
• UK shale gas remains untapped – a major discovery in the Gainsborough Trough (Lincolnshire) could add £112 billion to UK GDP, according to Deloitte. Some much needed growth there… 

According to Bjorn Lomborg, if UK electricity prices had remained at 2003 levels, the country would save £59 billion annually – roughly £3,543 per year for a family of four. Red Ed’s claim the green dream will bring down energy prices is just more hot air…