UK electricity prices set to explode as new tax is imposed
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UK electricity prices almost twice as expensive as Germany within three years
6:35PM BST 19 Jun 2013
Electricity prices in Britain may be almost double those in Germany within three years due largely to the impact of a new tax aimed at supporting renewable power generation, a report by bank Credit Suisse has claimed. The bank blamed the roughly fivefold rise in the government's new tax on carbon-dioxide emitting power generation over the next seven years, while also pointing to Britain's lack of infrastructure to import power from the European mainland.
The Credit-Suisse figures show that in the winter of 2016/17 UK power prices will trade at an 85pc premium to German equivalents, compared with a 25pc divergence currently.
http://www.telegraph.co.uk/finance/newsbysector/energy/10130970/UK-electricity-prices-almost-twice-as-expensive-as-Germany-within-three-years.html
Yet another TAX.
UK's oil production bbl/day : 1,099,000
Germany's oil production bbl/day : 156,800
The UK produces 7 times as much oil as Germany and we pay twice as much. Good luck to those facing higher energy bills in the years to come.
6:35PM BST 19 Jun 2013
Electricity prices in Britain may be almost double those in Germany within three years due largely to the impact of a new tax aimed at supporting renewable power generation, a report by bank Credit Suisse has claimed. The bank blamed the roughly fivefold rise in the government's new tax on carbon-dioxide emitting power generation over the next seven years, while also pointing to Britain's lack of infrastructure to import power from the European mainland.
The Credit-Suisse figures show that in the winter of 2016/17 UK power prices will trade at an 85pc premium to German equivalents, compared with a 25pc divergence currently.
http://www.telegraph.co.uk/finance/newsbysector/energy/10130970/UK-electricity-prices-almost-twice-as-expensive-as-Germany-within-three-years.html
Yet another TAX.
UK's oil production bbl/day : 1,099,000
Germany's oil production bbl/day : 156,800
The UK produces 7 times as much oil as Germany and we pay twice as much. Good luck to those facing higher energy bills in the years to come.
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Comments
Have no fear, the Con/Lab/Lib capitalist cabal will protect us little people from this heist. No way would they leave poor elderly vulnerable people to live in fuel poverty while their friends who own these companies line their pockets with profit.
It just won't happen.
Our government only gives money to banks.
germany are thinking long term. we tend to think only up to the next election.
Building new coal fired power stations
http://www.bloomberg.com/news/2013-02-27/germany-to-add-most-coal-fired-plants-in-two-decades-iwr-says.html
Burning oil for electricity is a criminal waste of a valuable resource. The answer is a combination of nuclear and renewables. Too bad we have such cowardly politicians in London.
Aren't German power companies state owned so any profits are reinvested unlike here where profits go abroad and are paid in director bonuses and share dividends?
http://www.prlog.org/12144466-stormont-says-no-powerni-18-electricity-price-hike-in-northern-ireland-electricity-saver-irelan.html
They are not paying their renewable energy companies money NOT to generate electricity.
http://www.bbc.co.uk/news/uk-scotland-13253876
There have been several times over the past week - in the middle of a warm spell when demand is obviously lower than it would be for much of the year - when I have looked at this page and seen wind contributing as little as one to two per cent of generation. At the time of posting the figure is 3.3%. (scroll down to table headed 'Generation by fuel type'.)
That is depsite the massive amount which has already been invested in wind, all of which is being added to bills. It has a contribution to make, but it would be foolish to think it can ever replace other forms of generation.
Edit - highlighted link doesn't seem to work. Try this http://www.bmreports.com/bsp/
http://www.thecommentator.com/article/3827/the_great_renewables_scam_unravels
No, E.ON and RWE are big companies who own E.ON UK and npower over her as well.
I thought he already was.
The risk of blackouts is due to rise sharply over the next few years.
We only just escaped blackout last year. If we had one of our cvonventional power station go down we would be in trouble. REmember most of these are now old and have had no investment and are having to work to their limits
When company profits, and keeping shareholders happy are the most important things, this will always happen.
Government policy has choked off the construction of new power stations.
Nothing to do with profits.
Like most dumb things today, its all the EU's fault.
http://pressreleases.eon-uk.com/blogs/eonukpressreleases/archive/2012/12/17/1903.aspx
So the policy is not just for the uk, bet other countrys are dealing with the problem ok
France is 80% nuclear and has been for some decades.
So we have sat back and done nothing again, we spend more time sorting out paper work than it takes to build anything. We have known all this for years that we needed more, not just been dropped on us overnight