Details of the government’s new energy bill have now been released, with plans to keep the lights on and keep carbon emissions down.
Labour are calling it a “humiliating failure” for the Lib Dems and Greenpeace say David Cameron has given in to “militant tendencies” in his own party.
However you look at it, the lack of a binding ‘decarbonisation’ target in the energy bill is being seen as significant.
The Chancellor George Osborne has opted to allow the next government to decide in 2016 whether or not to set carbon emissions targets for 2030.
The Lib Dems are widely in favour of ‘green tech’, and want gas and coal taken out of the energy mix altogether, favouring renewables. But Mr Osborne is convinced gas has a crucial role to play in Britain’s future energy mix.
However, the subsidies for renewables, nuclear and carbon capture & storage are to be increased from £2.6 billion per year to £10 billion in 2020.
This extra money will be added to energy bills and could cost the consumer around £110 more per annum by 2020.
Tim Yeo, Conservative MP said that “electricity generation needs to be decarbonised by 2030”. Not surprising for someone who is president of the Renewable Energy Association and makes over £160,000 a year from other ‘green’ interests. He said we should bribe residents to accept wind farms.