A story in today’s Daily Telegraph reports that household electricity bills are likely to rise by around £500 per year to pay for the additional investment needed in green energy.
Britain is obligated to increase its share of energy from renewable sources from 3 per cent to 15 per cent to meet EU targets but of course, these targets have not just suddenly appeared, they have been ignored until the last possible moment.
Q. Why have the utility companies not been re-investing in green technology over the past years?
A. They have been too busy sharing out their large profits through the payment of bonuses and dividends to their shareholders (many of whom are from overseas)
Once again, it is us, the consumers, who will be picking up the bill.