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UK government obfuscated on costs of energy, and uncertainties about Hinkley Nuclear power

Sky News 25th Oct 2017, The Government has been accused of getting its sums “spectacularly” wrong
on the energy market and locking customers into excessive prices for years
to come, in an independent review commissioned by ministers. Professor
Dieter Helm, who was asked in the summer to carry out the review, said
prices had gone up for many households and businesses despite lower
wholesale costs and greater efficiencies. He also warned of a “cliff edge”
for electricity capacity leading up to 2025 amid uncertainty about when the
much-delayed new nuclear reactor at Hinkley comes online. The report said
that Government models of energy costs in the first half of the current
decade had at times been “spectacularly bad”, as they predicted surging
fossil fuel prices.
http://news.sky.com/story/government-made-spectacularly-bad-call-on-energy-prices-report-11098293

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October 28, 2017 - Posted by | general

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