Energy bills could rise in wake of legally binging targets
Published on : 20/04/2009
Start here..
Compare all energy suppliers
9 out 10 can save money!
Consumers could be hit by price increases on their electricity and gas bills if the government introduces legally binging greenhouse gas emissions legislation.
The government's budget, which will be announced on April 22nd, is expected to contain details on how CO2 output can be reduced in British industry.
Strongly supported by industry, the carbon budgets will run for five-years at a time up until 2022, when the UK government is hoping to have cut carbon emissions by between 34 and 42 per cent.
The Confederation of British Industry claims that each household in the UK could end up paying £100 a year under the new carbon budgets, but the body claims that this would be money well spent.
Recent financial analyses of the impact of carbon emissions on the British economy show that the cost of taking action outweighs the cost of doing nothing by between £53 billion and £696 billion.
