£40 BILLION PER YEAR - THE COST OF NET ZERO BY 2030

 Britain currently has the highest industrial electricity prices and the fourth-highest domestic electricity prices in Europe. While high gas prices contribute to wholesale costs, this paper argues that the dominant driver of elevated electricity bills is the cumulative impact of policies designed to accelerate renewables deployment and achieve Net Zero.

Electricity subsidies (Renewables Obligation Certificates (ROCs), Contracts for Difference (CfDs), Feed-in Tariffs (FiTs), and the Sizewell C Regulated Asset Base (RAB) levy) have risen from £0.5bn in 2010/11 to £11.8bn in 2024/25 and are forecast to reach £14.9bn by 2030/31. Grid integration costs—covering transmission network charges, balancing services, and the Capacity Market—have increased from £2.8bn to £8.0bn over the same period and are projected to rise sharply to £25.3bn by 2030/31. Combined, these subsidy and grid integration costs have grown six-fold since 2010/11 to £19.8bn in 2024/25 and are forecast to exceed £40bn annually by 2030/31. This will be equivalent to more than £1,400 per household.

This report was cited in the Daily Mail. The report itself can be read in full here:

Good Money After Bad: The Spiralling Costs of British Green Energy Initiatives and What We Can Do About It  - Prosperity Institute