The Chancellor will attempt to “reset” the UK’s energy supply by announcing £20bn of spending over 20 years on carbon capture and clean energy in next week’s Budget singharj reports:
Jeremy Hunt will also reclassify nuclear energy as ‘environmentally sustainable’ as part of efforts to boost UK’s homegrown energy supply and keep bills lowMarch 10, 2023 10:30 pm
Jeremy Hunt said the investment would help ensure households never see spikes in energy bills on the scale seen over the winter afterThe cash, spread over two decades, will go towards projects aiming to store 20-30 million tonnes of carbon dioxide a year by 2030 – equal to the emissions from 10-15 million cars.
He will also reclassify nuclear power as “environmentally sustainable”, subject to consultation, in a bid to drive more private sector investment into the sector. Ahead the Budget, the Chancellor said: “Without Government support, the average household energy bill would have hit almost £4,300 this year, which is why we stepped in to save a typical household £1,300 on their energy bills this winter. We don’t want to see high bills like this again, it’s time for a clean energy reset.
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