Environmental Levy Update

By Paul Homewood

 

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https://obr.uk/efo/economic-and-fiscal-outlook-november-2022/

Following the Autumn Statement, the OBR have released their Fiscal Tables, including Environmental Levies.

As we can see, the cost of subsidising renewable energy is still going to be considerable, even although Contracts for Difference are expected to reduce energy bills, with market prices for electricity higher than the CfD guarantee.

Over the six year period 2022/23 to 2027/28, the total cost of levies, FiTs and RHI will amount to £56 billion.

The cost of subsidies already paid out since 2012/13 came to £78 billion (see here), so by 2028 we will have forked out £134 billion.

Bear this in mind when the renewable lobby tells us we should have been building more wind farms!

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November 25, 2022 at 04:27AM

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