The committee’s recent report on energy prices is deficient in all three, instead displaying similar ethical standards to Greenpeace or Friends of the Earth. Yes, low carbon electricity is more expensive than burning fossil fuels, the report conceded, but overall, low carbon policies were making people better off because energy efficiency policies meant that people were consuming less electricity.
This would only be true if everyone upgraded all their electrical equipment cost, which of course they don't do. But if they did they would still not see any real savings as they would have spent a lot of capital in the upgrading. For example the old candescent light bulbs cost around 20 or 30 pence, whereas the new lower energy ones cost around 200 pence.