Labour net zero levies now main driver of rising energy bills – Watts Up With That?

From NOT A LOT OF PEOPLE KNOW THAT

By Paul Homewood

h/t Ian Magness

 Two years late is better than nothing, I suppose Telegraph:

Labour’s net zero levies will become the main driver of household energy bills next year, overtaking gas prices for the first time, analysts have warned.

Green taxes as well as upgrades to the electricity grid will account for 60pc of energy bills from April 2026, Cornwall Insight said – far outweighing the actual cost of energy.

The shift undermines claims by Ed Miliband, the Energy Secretary, that gas prices are the primary cause of high bills. He has previously said that bills were high “because of our dependence on fossil fuels”.

Craig Lowrey, from Cornwall Insight, said: “Wholesale prices are no longer the main story. The real pressure is coming from rising non-energy costs, with levies and policy decisions associated with that investment in renewables driving up bills.”

Household energy bills will surge to more than £1,800 next spring, Cornwall Insight predicted, partly because of the cost of upgrading the UK’s pylons, power cables and substations.

Full story here.

With annual renewable subsidies running at around £20 billion, these alone make up a quarter of your bill. Grid upgrades will soon push bills up further.