CPS Research Fellow Rupert Darwall approves the decision by the Department of Energy and Climate Change to stop future funding of the Green Deal Finance Company.
To read the full article, visit the Rural Energy News website.
“The announcement was welcomed by the influential Centre for Policy Studies (CPS). CPS Research Fellow Rupert Darwall, author of the report entitled, ‘Central Planning with Market Features: How Renewable Subsidies Destroyed The UK Electricity Market’ said, “Yesterday’s statement by the Energy and Climate Change Secretary to the energy and climate change select committee that meeting carbon reduction targets is ‘more important than renewables targets’ is the first big step back to energy policy sanity. As the Competition and Markets Authority pointed out in its report earlier this month, the renewables target is more of a constraint than carbon reduction targets.
“The energy secretary has backed up her words with welcome action by reining in the explosive growth of renewables subsidies. As the National Audit Office pointed out two years ago, spending on Feed-in Tariffs has been out of control. In just four years, cumulative Feed-in Tariff spending will be £2,112 million, nearly double the £1,064 million originally forecast.
“The energy secretary has grasped the nettle that more renewables mean higher electricity bills.”
To read the full article, visit the Rural Energy News website.
Date Added: Monday 27th July 2015
