The Government will be forced to abandon its renewable energy programme unless it is more honest with consumers about the soaring cost, the owner of British Gas has warned.Please continue reading at The Times:
Sam Laidlaw, the chief executive of Centrica, said that consumers were not sufficiently aware of the £104 levy on each household’s energy bill they will be paying by the end of the decade to fund renewable subsidies.
If consumers are not prepared to pay higher energy bills to tackle climate change, a backlash could result when the escalating costs become apparent. This could force the government of the day to retrospectively scrap the subsidies as Spain has done in recent years. The move has destroyed investor confidence in the Spanish energy sector, a prospect already unnerving energy companies in the UK, Laidlaw told a panel discussion entitled “How to keep the lights on in Britain and how other countries fare better”.
“We need more education about cost to consumers,” he told the summit. “There needs to be honesty from politicians too ... It’s not clear if consumers are sufficiently committed [on climate change]. If the electorate is not with us we could have a repeat of the situation in Spain. That makes people very nervous.”
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