The average British household could eventually end up paying an extra £8,000 for its gas and electricity if George Osborne succeeds in delaying vital action to make Britain greener, the Government’s official climate change advisers warn today.
Postponing decisive action to cut carbon emissions by 10 years to 2030, through measures such as a widespread shift to renewable energy sources, will add at least £100bn to Britain’s collective household energy bills between 2030 and 2050, according to the independent Committee on Climate Change (CCC). This works out to £4,000 per household.
The increase is because Britain would need to take even more drastic action to make up lost ground to ensure it hits its legally binding target of reducing carbon emissions by 80 per cent from 1990 levels.
And if fossil fuel prices soar to the top of the range of realistic forecasts, the bill to remedy the delayed switch to a low-carbon society could reach £200bn, or £8,000 per household, according to the committee’s calculations – the first time a figure has been put on the cost to the UK of postponing action.
George Osborne's U-turn could add £200bn to energy bills