Cost of renewable energy to triple in UK by 2020
According to government officials, the electricity customers in the UK will be asked to pay three times the current level for clean energy by the year 2020.
Energy Secretary Ed Davey is expected to allow suppliers to increase the renewable energy levy by three times by 2020. A spokesman at the Department of Energy and Climate Change said that the cost of renewable energy such as solar and wind will come up to 7.6 billion pounds by 2020. The parliament is expected to consider the matter after the details are published on November 29.
The measures are part of the government’s 110 billion-pound program aimed at replacing older power plants and reducing greenhouse gases in the UK. The government’s decision will allow utilities such as SSE Plc and Electricite de France SA to chart out their plans as they will be clarified on the level of support from the government for cleaner sources of energy generation.
Edge, director of policy RenewableUK said, “It’s the most significant change around in the energy market for more than 20 years.”
The deal will be announced by the office of Energy Secretary today.