Skip to comments.EDF: Price rise for low-carbon electricity on the way (nice one, EU)
Posted on 06/22/2012 7:52:19 AM PDT by Olog-hai
The boss of the UKs largest electricity generator and distributor has warned of imminent electricity price rises across Europe, due to the perceived demands of moving towards a low-carbon economy.
Asked how that transition could be paid for, Vincent de Rivaz, chief executive of EDF Energy, told a meeting in the European Parliament on 19 June that there was an urgent need for new capacity in many countries, especially in Britain.
It would be a mockery to deny that the price will go up, he continued. It is impossible to invest £110 billion (134 billion, $172 billion) in electricity generation with no impact on prices in the short term.
The UKs Department of Energy and Climate Change said that up to £110 billion would need to be invested in power generation and transmission by 2020 when it unveiled its Electricity Market Reform in May.
Announcing the move, the energy and climate change Minister Ed Davey said that energy bills were likely to increase over time, driven primarily by rising fossil fuel prices, rather than low-carbon investment.
(Excerpt) Read more at euractiv.com ...
Higher price for electricty? Exactly what the envirofascists want. “Bring back the Middle Ages!” is their rally cry.
“Prices would necessarily skyrocket” . . . ? That sounds vaguely familiar . . .
They’ll pay more, but feel better about it.
For most Euros, I assume it’s an acceptable tradeoff?
I didn’t read the article, but this seemed like a good place for a St. Louis / Ameren shout-out. How can they be asking for a 14% increase with natural gas prices so low???