Thursday, June 20, 2013

19 Jun 2013UK

Electricity prices in Britain may be almost double those in Germany within three years due largely to the impact of a new tax aimed at supporting renewable power generation, a report by bank Credit Suisse has claimed. The bank’s analysis showed wholesale prices, which form the backbone of energy bills, would top those in Germany by 85pc in 2016-17 and would be higher in general for the next seven to 10 years. The bank blamed the roughly fivefold rise in the government’s new tax on carbon-dioxide emitting power generation over the next seven years, while also pointing to Britain’s lack of infrastructure to import power from the European mainland. --The Daily Telegraph, 19 June 2013

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