The EU Emissions Trading Scheme – The Real Cost To Britain
By Tory Aardvark
Hidden away in the bureaucracy of the European Union is the Emissions Trading Scheme, a well kept secret from us.
This well kept secret is costing us £3 billion pounds per year, that’s about £117 per household on our energy bills.
When the cost of the trading scheme is added to the Renewables Obligation then the average cost on each eclectricy bill is 14% of the total.
The cost falls disproportionaly on the elderly and business, both large users of electricity, both can ill afford increased costs in the current recession.
For all that, it is pretty ineffective at cutting emissions. Prominent environmentalists and energy companies have called for a floor on the price, as it keeps collapsing. That would bring into question the whole point of the trading scheme. The volatility of the price both makes it that bit harder for families and businesses to manage their budgets and weakens the incentive to invest in cutting emissions.