Brexit uncertainty will increase by a sixth the costs of a Government scheme to keep the lights on, adding more than £350m to consumer energy bills, leading analysts have forecast. Doubts over the future operation of the energy market and increased financing costs will lead energy companies to demand greater subsidies to build and operate power plants, consultancy Cornwall Energy claimed in a report. Under the Government’s “capacity market” scheme, energy companies are offered subsidies to guarantee their power stations will generate electricity when needed in future winters. The policy is intended to encourage the construction of new gas plants to replace Britain’s ageing coal and nuclear power stations.
Telegraph 16th July 2016 read more »