Britain: Green Energy Subsidies Spiral Out of Control
George Osborne to abolish coalition's green tax target as customers face paying £1.5billion more through their bills to subsidize wind farms, solar panels and biomass plants.
The cost of subsidising new wind farms is spiralling out of control, government sources have privately warned.
Officials admitted that so-called green energy schemes will require a staggering £9 billion a year in subsidies — paid for by customers — by 2020. This is £1.5 billion more than the maximum limit the coalition had originally planned.
The mounting costs will mean every household in the country is forced to pay an estimated £170 a year by the end of the decade to support the renewable electricity schemes that were promoted by the coalition.
Read the article “Britain: Green Energy Subsidies Spiral Out of Control” on telegraph.co.uk.