Costly renewable energy 'will damage UK's economy'

  • @ukmoneyguru

The energy Bill will be slammed this week by a group of business owners and consumer groups as "absurd" and potentially leading to the UK "sleepwalking into blackouts".

A cross-industry group called the Powerline is to launch a scathing attack on the Bill, due to be given Royal Assent later this year, through advertising and social media. The business leaders are furious at what they see as the energy Bill's over-reliance on costly renewable energy at the expensive of traditional and lower-cost energy sources such as coal-fired and gas power stations.

Against the backdrop of a potential triple-dip recession, the Powerline group is concerned that the extra costs the Bill will impose on individuals and business energy users will lead to a further decline in UK competitiveness.

A leaked memo from the Powerline group calls for a "dispassionate debate" over green energy. "Our ambition is to stop Britain sleepwalking into blackouts, soaring energy bills and a desert of lost jobs," it said.

The campaign will come as a further blow to the Government's energy policy as it struggles to put private-sector funding in place for a new foray into nuclear power generation at Hinkley Point in Somerset.