Last week’s energy bill announcement led to media headlines about increased household bills from subsidising renewables. What the media fails to mention is the scandalous subsidy already given to oil, gas, coal and nuclear.
Under the government’s levy control framework, spending for low-carbon electricity is set to more than triple between now and 2020, with around £110 expected to be added to household bills by then.
Putting that £110 figure into context, every household already subsidises fossil fuels by £138 and renewables by only £53, according to figures based on 26.3 million UK households from the Organisation for Economic Co-operation and Development (OECD).
For every pound of renewable subsidy, fossil fuels receive £2.60
This means that for every pound of renewable subsidy, fossil fuels receive £2.60. Whereas renewable energy can deliver stable prices, fossil fuels cannot. The risk of price volatility driven by oil scarcity and commodity traders, never mind the increasing effects of carbon intensive energy supply, may make that £110 seem a small price to pay.
Air pollution from fossil fuels costs every household between £323 and £760 in health costs
The narrow discussion of direct subsidy of fuel types ignores the heavy indirect costs of air pollution. The health costs could be £323 per household at its lowest estimate and £760 at its highest. This is a fossil fuel subsidy by any other name.
Storing nuclear waste costs every household £100 and rising
Meanwhile, nuclear waste storage is costing each household at least £100 and rising.
And in the wider context, at the height of the financial system bailout the sum involved was £49,000 per household or £1.3 trillion.
The alternative is limitless, clean and domestic energy
In eight years’ time, renewable energy’s subsidy will seem small in comparison to the guarantee of a limitless, clean and domestic energy supply.
Like our Facebook Page
How to Find an Eco-Friendly Termite Control Service Provider in Malaysia
Eco-Friendly Vegans Win Most Battles Not the War
3 Iconic Chicago Billboards Eco-Friendly Advertisers Can Learn from
EnviroSolar’s Abe Issa Discusses Success in Green Entrepreneurship
How Sports Could Be Impacted by Climate Change
What Eco-Friendly Patients Should Know about Online Therapy
6 Reasons Why Meal Delivery Services are Eco-Friendly
The Path for Retail’s Sustainable Future
4 Eco-Friendly Ways to Treat a Sinus Infection
4 Strategies for Eco-Friendly Real Estate Investors to Find Properties
How Managed Print Services Helps to Reduce Paper Waste
Why Scientists Are Concerned About ‘Forever Chemicals’ In Drinking Water
Meat Farming Is Only Getting Smarter, Easier & Eco-Friendlier
What is Eco-Friendly Homesteading and How Does it Affect Your Insurance?
Importance of Using a Water Purifier in an Area with High Pollution
Alternative Financing Ideas for Green Businesses that Shun Banks
Tencel Material Demand Shows Britain Is More Eco-Friendlier Than Ireland
How To Invest in Clean Energy Stocks in Only Five Easy Steps!
How To Secure Funding As An Eco-Entrepreneur?
4 Amazing Eco-Friendly Businesses Worth Starting in 2021
- Features8 months ago
Seven Health and Safety Tips for Eco-Friendly Products in a Green Home
- Energy9 months ago
Eco-Friendly Homeowners Lower Carbon Footprints through Greater Air Conditioner Efficiency
- Features8 months ago
Essential Guidelines for Eco-friendly Moving into new Home
- Invest10 months ago
The Eco-Friendly Evolution of Bitcoin Over the Years