Carbon budgets could damage UK industry

A green economy in the UK will be too expensive and the government’s carbon budgets are unrealistic and dangerous. These were the words of Energy Intensive Users Group Director Jeremy […]

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By Tom Gibson

A green economy in the UK will be too expensive and the government’s carbon budgets are unrealistic and dangerous. These were the words of Energy Intensive Users Group Director Jeremy Nicholson.

Speaking at the npower Energy Debate in London, he said: “Renewable costs will be horrendous by 2020. What do major energy users think about the price of electricity going up 60-70%? Will they become part of the supply chain or will they look for business elsewhere?”

Mr Nicholson was critical of the coalition’s policy on the EMR. Energy Minister Charles Hendry said that if the industry could find the right level for an emissions performance standard then rather than restrict business, it might attract investment.

Mr Nicholson said: “The EMR is a missed opportunity to simplify the electricity market.”