THE Government should act “ruthlessly” to cut subsidies paid to green
energy producers in order to reduce household bills, a report has recommended.

The Policy Exchange think tank said renewable energy subsidies should be
reduced if the technologies fail to come down in cost under strict time limits.

The report urges the Government to hold the offshore wind industry to
claims it can reduce its costs significantly by the end of the decade.

Earlier this month, ministers increased state help for offshore wind, with
a strike price of £140/MWh for 2018/19, £5 higher than previously planned.

But the Policy Exchange report argued the offshore industry aimed to get
its costs down to £100/MWh for projects beginning in 2020.

The report called for the Government to speed up the introduction of
auctions, instead of fixing predetermined strike prices for renewable
producers.

Simon Moore, the report’s author, said: “The Government needs to act more
ruthlessly to reduce household energy bills by cutting state support for
renewable technologies that do not come down in price.

“Offshore wind may play an important role in our future energy mix. But it
should not be given favourable treatment.”


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