Consumers' wallets will be hit be renewable electricity
Published on : 19/03/2009
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Consumers can expect higher electricity prices in the future as a result of the huge investment in renewable energy generation, it has been claimed.
According to Ignacio Galan, chairman and chief executive of Iberdrola, the Spanish owners of ScottishPower, low-carbon electricity will come at a cost to British households.
ScottishPower is currently bidding to build Britain's first carbon capture facility at Longannet power station in Fife.
The project is expected to cost in excess of £1 billion, a small fraction of the £100 billion needed to be spent on replacing existing nuclear power stations and cleaning up coal-fired plants.
It will see carbon from the fife power station pumped into a depleted North Sea oilfield.
Commenting on the project, Galan said: "The British government wants to have this plant in operation by 2014 and ours is the only one which complies with that requirement."
Chief executive of E.ON Paul Golby claims that carbon capture will only be viable if it is funded by taxpayers.
