Britain's energy crisis looks set to hit customers as the Coalition reaches the end of its fixed term. For the first time since the 1970s, energy policy could influence the outcome of the next election.
Today Ofgem chief executive Alistair Buchanan warns that falls in Britain's power production capacity are likely to lead to more energy imports and customers paying more. Over the last six years, the Centre for Policy Studies has highlighted the repeated failure by politicians of all parties to address the impending energy crisis:
CPS energy analyst Tony Lodge comments:
“The energy crisis is real and is near. The Conservatives risk being hit at the ballot box as energy bills soar. It should move to retain some older coal and oil generating plant in an 'emergency power reserve' and get on with delivering new nuclear as a priority. The stakes could not be higher.”
CPS Director Tim Knox comments:
“Politicians have kicked the energy can down the road for too long. That can is now going to blow up: households will end up paying the price in higher energy bills and maybe even energy outages. This was both predictable and unnecessary. We now urgently need a clear policy designed to meet the twin aims of lower energy costs and greater security of supply.”