Energy bills warning as Britons told to ‘accept higher prices’ to achieve net zero economy
Energy bill increases have put pressure on working families
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Households are being told to “accept higher pricing” when it comes to energy bills if net zero is to be achieved.
Joe Kaesar, the chairman of Siemans Energy, has claimed energy bills will need to rise to facilitate the move to a green economy.
Speaking to The Telegraph, the boss of the UK’s biggest wind farm manufacturer warned the British public will have to come to terms with the long-term cost of net zero.
He explained: “Every transformation comes at a cost and every transformation is painful. And that’s something which the energy industry and the public sector – governments – don’t really want to hear.
Mr Kaesar made the comments while speaking to The Telegraph
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“I believe that for a while (customers) need to accept higher pricing.
“And then there might be innovation – about the weight of the blades, other efficiency methods, technology – so the cost can then go down again.
“But the point is, if there is no profit pool in an industry, why should that industry innovate?”
The UK Government has previously pledged to reach net zero by 2050, describing the goal and energy security as being “two sides of the same coin”.
Last year, Prime Minister Rishi Sunak said: “This country is proud to be a world leader in reaching net zero by 2050. But we simply won’t achieve it unless we change.
“We’ll now have a more pragmatic, proportionate, and realistic approach that eases the burdens on families.
“All while doubling down on the new green industries of the future. In a democracy, that’s the only realistic path to net zero.”
Britons have been saddled with rising energy bills during the cost of living crisis over the last two years.
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Energy bills have been a major concern for households GETTY Questions have been raised over the affordability of environmentally—friendly energy sources for consumers, such as heat pumps.
At the beginning of this year, industry regulator Ofgem hiked price cap with the cost for a typical household who use gas and electricity and pay by Direct Debit to go up by £94.
Forecasts by Cornwall Insights suggest that this will fall by 16 per cent in April but Citizens Advice has warned that millions risk being cut off from their gas and electricity this winter.
Some 800,000 people went for more than 24 hours without energy in 2023 because they could not afford to top up their prepayment meter, according to the charity.