In short, our electricity bills will increase and not decline. Not only that, but a doubling of offshore wind costs will add hundreds of billions more to that investment bill. There is no recognition either in the NIC report of the fact that heat pump running costs are higher than a gas boiler.
So when we add all these extra costs, as well as the cost of interest and the tendency for official estimates to be too low, we could easily be looking at a total bill of £2trillion and more.
But even that £1.3trillion works out at £48 billion a year, and that’s £1700 for every household in the country every year till 2050. And all for nothing as the rest of the world carries on emitting more and more carbon dioxide year after year.

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