Households will pay upto £500 a year to subsidise wind turbines and tidal power stations by 2025, the energy regulator has warned. Almost a third of the average domestic
fuel bill will be siphoned off to fund the construction of renewable energy sources and other Government green initiatives, according to Ofgem chief executive Alistair
Buchanan. He told MPs that the levy was necessary to fight global warming and leave the country 'a nicer place to live for our children and grandchildren'.
The average household now pays around £100 a year - 9% of a typical £1,100 fuel bill - in green subsidies. The money is used to comply with Government initiatives designed
to meet the target of generating a third of the country's power from renewable sources by 2020. However, Mr Buchanan warned that costs of switching to a low-carbon economy
will mean higher bills, which he said could soar by between 14% to 60% over the next decade.
His forecast came as the Government unveiled plans to install smart gas and electricity meters in every home by 2020.
Householders to pay £500 each for tide and wind power. The Daily Mail, Dec 03.