We are paying for green target based on cushy subsidies

HAPPY New Year...or not, as it was with the announcement higher of energy bills marking a depressing start to 2025.

- Esther Krakue

From this week, the Energy Price Cap rises by 1.25%, meaning the average household will now pay £1,738 a year for their gas and electricity.

Combined with the £149 rise in the price cap in October, this puts average bills at a whopping £170 higher than when Labour came to power. Energy bills are also about 50% higher than pre-Covid levels and analysts predict they will rise by a further 3% in April this year.

So much for lower energy bills! When asked how he was faring on this front, the Energy Security (more like energy insecurity) Secretary Ed Miliband told Parliament that "it is completely logical to say that his actions will lead to a reduction in bills". Seriously?

Then when will we start seeing this influx of cheap energy? Since 2010, the UK has invested £300billion in public and private low-carbon energy. Expensive renewables, such as offshore wind, have been all the rage, yet taxpayers are still waiting to see any bang for their buck.

The reason for this is simple. Government subsidies for wind and solar power have pushed up the average price of electricity sold by energy firms, with virtually no benefits for the consumer. Between 2009 and 2020, the amount of wind and solar on the grid rose from 4.5 to 37.95 gigawatts - a feat that required significant upfront investment.