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Low-carbon policies provide insurance against risk of high costs of unabated gas-fired generation
The second report by the Committee on Climate Change assessing the impact of carbon budgets on energy bills confirms that annual household energy bills could increase by £100 in 2020 to support development of low-carbon technologies.
The report, Energy prices and bills – impacts of meeting carbon budgets, says expected bill increases beyond this timeframe are likely to be limited. In contrast, continued reliance on unabated gas-fired generation carries the risk of electricity bills for the typical household being up to £600 higher than under a low-carbon power system over the next decades.
The report considers the impact of meeting carbon budgets on household, commercial and industrial sector energy bills, and concludes that it is economically sensible to insure against future high prices by investing in a portfolio of low-carbon technologies over the next two decades.
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