🚨UK Net Zero & energy subsidies have exploded to £585 BILLION 🚨
Our taxes funding unreliable renewables, backups, carbon capture & subsidies to use the expensive energy. A new update to the Subsidy Control Database exposes the scale of the madness. (1/11)
Breakdown of the insanity:
- Renewables Obligation (ROCs): £104bn
- Contracts for Difference (CfDs): £102bn inc. £40bn for AR7
- £31bn for FiTs
In total over £260bn to subsidise renewables that don’t produce when we need it most, or FIVE Hinkley Point C’s (2/11)
Wind and solar are intermittent, so we pay another £72bn for the Capacity Market – backup power for when the wind doesn’t blow or sun doesn’t shine. And a further £1bn to subsidise making turbines. (3/11)
Then there's the mad Renewable Heat Incentive: £44bn to pay farmers to burn wood to heat empty sheds until 2040.
Yes, really. One of the most absurd uses of public money you’ll ever see (4/11)
Then there’s £51bn to subsidise Energy Intensive Industries through the British Energy Supercharger to use this expensive energy. A giant tangle of subsidies and cross-subsidies created by the very policies that are supposed to “save” us (5/11)
Carbon Capture (CCUS): £59.7bn total. Includes £30bn to bolt CCUS onto gas plants – making them LESS efficient and MORE expensive - a crime against thermodynamics. (6/11)
Another “thermodynamic war crime” is Green Hydrogen – expensive, inefficient, and heavily subsidised to the tune of £3bn (7/11)
There’s another £4bn to transform industry by electrifying the automotive supply chain. And another £2.6bn to decarbonise social housing and install heat pumps. Another £600m to subsidise ultra-low emission buses (8/11)
Nuclear? Sizewell C gets £62.6bn and is strangled by over-regulation and poor procurement.
Meanwhile unreliable renewables get the lion’s share and create the very problems we then have to subsidise (9/11)
This £585bn web of subsidies is sucking the life out of the economy: higher bills, higher taxes, deterred investment, lost jobs. A completely insane “green gravy train” that achieves nothing for the climate. We need to ditch Net Zero now (10/11)
If you enjoyed this thread, please like and share. You can sign up for free to read the full article on the link below (11/11)
davidturver.substack.com/p/now-theres-5…
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