Yesterday, @EnergyUKcomms caught a bad case of Net Zero Derangement Syndrome by claiming that removing carbon taxes will increase bills. A thread (1/n)
They first claimed that decarbonisation and economic growth go hand-in-hand. But data from OWID shows that faster decarbonisation leads to slower growth (2/n)
They went on to claim that scrapping the Emissions Trading Scheme (ETS) would increase gas demand by 25%. This claim would mean almost doubling the amount of gas used for electricity, which is implausible (3/n)
Then they claimed that an increase in gas demand would cause a rebound in gas prices - higher demand means higher prices. The same Energy UK claimed last month that increased supply from the North Sea would not reduce prices. They can't have it both ways (4/n)
They went on to contradict themselves by saying lower electricity prices would lead to higher CfD subsidies. It would, but bills would be unaffected because CfD generators receive the strike price anyway (5/n)
They also want the UK to join the EU Carbon Border Adjustment Mechanism (CBAM) and align to the EU ETS. Trouble is, EU carbon prices are even higher than in the UK which would definitely send energy prices even higher (6/n)
Overall a poor effort by Energy UK which shows that once the spotlight is turned on crazy energy policies, the proponents catch Net Zero Derangement Syndrome (7/n)
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