Lord Forsyth claims Tory ‘revolution’ of electricity industry is being undermined by ‘virtual nationalisation’. The former Secretary of State for Scotland says Conservative-led changes which he claims led to lower costs and a better service are being ‘undone’ by ‘over-emphasis on carbon emission reduction’ In debate on a critical Lords economics affairs committee report on reforming the electricity market, Lord Forsyth said: “We are seeing the virtual nationalisation of electricity production in this country.” He added it was almost impossible for anyone to build a power station without getting some kind of subsidy or guarantee from the Government. Lord Forsyth said it was “a moment of high farce” when coal-fired power stations are being closed so rapidly consumers and industries had to be paid “not to take the electricity” and diesel generators turned on to supplement the national supply. He was also critical of plans for a new nuclear power station at Hinkley Point C, warning the delayed project was a “severe risk” to security of supply, which is now 10-years late and massively over budget. Former Labour chancellor Lord Darling of Roulanish said he agreed with “almost everything” the former minister had said and called for a “plan B should Hinkley C not go ahead”. He said the electricity market today was “not a market in any normal sense of the word” due to government intervention, adding it was not nationalisation but it was “certainly part there”.
Insider 18th July 2017 read more »