• Privacy policy
  • T&C’s
  • About Us
    • FAQ
    • Meet the Team
  • Contact us
  • Guest Content
TLE ONLINE SHOP!
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
  • JOBS
No Result
View All Result
The London Economic
SUPPORT THE LONDON ECONOMIC
NEWSLETTER
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
  • JOBS
No Result
View All Result
The London Economic
No Result
View All Result
Home News

Government to introduce new gas levies as it tries to go green

The move could send energy bills rocketing by 30 per cent next year, analysts suggest.

Henry Goodwin by Henry Goodwin
2021-10-09 14:19
in News
FacebookTwitterLinkedinEmailWhatsapp

Energy bills could go up even further for UK customers amid reports the government is planning to introduce new charges on gas.

According to The Times, a new strategy will be published before the Cop26 climate conference in Glasgow next month, which commits the Government to cutting the price of electricity and imposing a levy on gas bills to fund low-carbon heating.

On Monday, the prime minister said Britain was aiming to produce “clean power” by 2035 as part of the country’s goal of reaching net zero carbon emissions; and earlier this week, Business Secretary Kwasi Kwarteng insisted that by decarbonising the UK’s power supply, the Government would ensure that households are less vulnerable to swings in fossil fuel markets.

The government will release a series of consultations before going ahead with the plan, which is likely to start in 2023 and could add £170 a year to gas bills, the paper reported.

The strategy will reportedly include measures to boost the sale of heat pumps, which according to the GMB union costs £8,750 on average before VAT – the equivalent to almost a third (31 per cent) of the average household’s entire annual income.

A spokesman for the Department for Business, Energy and Industrial Strategy told the Times: “We’ll set out our upcoming heat and buildings strategy shortly. No decisions have been made.”

Factories could close

It comes as rising energy costs have prompted industry leaders to warn the government their factories could stop production or permanently close.

Andrew Large, director-general at the Confederation of Paper Industries, and Gareth Stace from UK Steel attended a meeting with the Business Secretary and other representatives of energy intensive industries to discuss the wholesale gas crisis on Friday afternoon.

Speaking to the BBC Radio 4’s PM programme afterwards, Large claimed it was “very clear” across all of the sectors that there are “serious” risks factories could stop all activities as a result of the gas prices being too high.

RelatedPosts

Unite secures 28% pay rise for hundreds of Luton airport workers

Woman dies from hypothermia after telling her doctor she ‘couldn’t afford heating’

Serving Met Police officer pleads guilty to child sexual offences

BBC chairman set to be grilled by MPs amid questions over Boris Johnson loan

He said: “When we talked with the Secretary of State this afternoon, it was very, very clear across all of the sectors that there are serious risks of effectively factory stoppages as a result of the costs of gas being too high to bear, and in those circumstances there will be a gradual knock-on effect through supply chains, right the way across manufacturing, consumer retail and other products. And so the risks are very, very real.”

Speaking to Channel 4 News, Stace insisted the worst-case scenario would see steel plants closing for good.

He explained: “The nightmare scenario would be that we produce less steel in the UK, that we see all of that steel that we do consume in the UK, and that’s increasing, be met by imports and once you take away a steel plant, you don’t really bring them back.

“That’s it for good. Once it’s done, it’s done.”

‘Self-inflicted’

In a letter to the Times’ editor, former British ambassador to Russia Sir Tony Brenton appeared to suggest the UK should have signed a long-term contract with Moscow for gas supply 15 years ago.

Sir Tony said he “witnessed Gordon Brown complain to (Vladimir) Putin about surging gas prices; the response was that our problem was self-inflicted”.

“Other countries avoided the vicissitudes of the market by entering long-term contracts; Britain did not,” he added.

Analysts have predicted UK customers could see their energy bills rise by 30 per cent next year.

Research agency Cornwall Insight has claimed further volatile gas prices and the potential collapse of even more suppliers could push the energy price cap to around £1,660 in summer.

The forecast is approximately 30 per cent higher than the record £1,277 price cap set for winter 2021-22, which commenced at the start of October.

Related: One in six Brits unable to buy essential foods, ONS reveals

Tags: Boris Johnsonenergy prices

Since you are here

Since you are here, we wanted to ask for your help.

Journalism in Britain is under threat. The government is becoming increasingly authoritarian and our media is run by a handful of billionaires, most of whom reside overseas and all of them have strong political allegiances and financial motivations.

Our mission is to hold the powerful to account. It is vital that free media is allowed to exist to expose hypocrisy, corruption, wrongdoing and abuse of power. But we can't do it without you.

If you can afford to contribute a small donation to the site it will help us to continue our work in the best interests of the public. We only ask you to donate what you can afford, with an option to cancel your subscription at any point.

To donate or subscribe to The London Economic, click here.

The TLE shop is also now open, with all profits going to supporting our work.

The shop can be found here.

You can also SUBSCRIBE TO OUR NEWSLETTER .

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

Trending on TLE

  • All
  • trending
Abdollah

‘Rescue us’: Afghan teacher begs UK to help him escape Taliban

CHOMSKY: “If Corbyn had been elected, Britain would be pursuing a much more sane course”

What If We Got Rid Of Prisons?

More from TLE

15 Tips for Moving Abroad – and back again – with Children

Brain stimulation ‘may reduce food cravings’

Donald Trump’s NYC mayoral vote binned – because he got his birthday wrong

10-year-old schoolgirl chased burglar from home and grabbed his leg

Unleashing Innovation: How Israel May Have the Answer to Beating the Virus

Spanish luxury property market continues to boom

How To Make The Perfect… Healthier Banana Pancakes With Blueberry Sauce

Sun propaganda would make “tinpot dictatorships blush”

Beer of the Week – BrewDog Dead Pony Club Pale Ale

Russia to be booted out of World Cup as Fifa finally steps up

JOBS

FIND MORE JOBS

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

Contact

Editorial enquiries, please contact: [email protected]

Commercial enquiries, please contact: [email protected]

Address

The London Economic Newspaper Limited t/a TLE
Company number 09221879
International House,
24 Holborn Viaduct,
London EC1A 2BN,
United Kingdom

SUPPORT

We do not charge or put articles behind a paywall. If you can, please show your appreciation for our free content by donating whatever you think is fair to help keep TLE growing and support real, independent, investigative journalism.

DONATE & SUPPORT

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.




No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Meet the Team
    • Privacy policy
  • Contact us

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.