Higher fuel bills. Risks of power cuts. Massive taxpayer subsidies to Big Green. Decarbonisation hasn’t saved the planet. But it has ruined our energy market.
Peter Lilley’s new report on the cost of the 2008 Climate Change Act is a must-read. He calculates that, on average, every British household is forking out over £300 a year to cut carbon emissions – and will be paying more than six times that in 2020.
And what have we got to show for it?
Shutting coal power plants has left us desperately short of supply. Renewables are too intermittent to fill the gap, while new nuclear plants won’t come online for another decade.
But at least the planet has been saved, right?
Since we passed the Climate Change Act, China has increased its annual emissions by a billion metric tons of carbon – more than eight times our total annual carbon output.
So, whatever your stance on anthropogenic global warming, Britain’s CO2 cuts haven’t made a blind bit of difference to the planet.
There’s no justification for this decarbonisation disaster. The government’s priority should be cutting costs and keeping the lights on. For that, we need a free-market energy revolution