LABOUR\u2019S plan to get the UK to Net Zero by 2050 could end up costing every household in Britain \u00a3500 a year.<\/p>\n
Ministers have been warned that transitioning to meet green targets over the next 25 years could cost the country a staggering \u00a3350 billion more than taking a slower approach.<\/p>\n
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Claire Coutinho says the public have been told a lieCredit: Alamy<\/p>\n
Net Zero by 2050 could cost the country \u00a3350 billion more than other routesCredit: Alamy<\/p>\n
The UK could save an average of \u00a314 billion a year if it abandons its legally binding target to reach net zero, according to the National Energy System Operator. <\/p>\n
That works out at roughly \u00a3500 a year for every household in Britain until 2050.<\/p>\n
The report warned the bill could climb even higher if gas prices fall below current forecasts, making green energy look even pricier by comparison.<\/p>\n
In this scenario, the Net Zero premium could rise to an average of \u00a319 billion a year over the next two decades.<\/p>\n
Even in a world where gas prices do rise, the analysis found the Net Zero pathway would still be around \u00a35 billion a year more expensive than a slower route. <\/p>\n
The Tories\u2019 shadow energy secretary Claire Coutinho said: \u201cThe public have been told the lie that Net Zero means cheaper energy. <\/p>\n
\u201cThis report shows the truth \u2013 rushing to net zero is forecast to make our energy system \u00a3350 billion more expensive than going slower.\u201d <\/p>\n
The government body responsible for the UK\u2019s power system said the extra cost of racing to Net Zero would hit hardest over the next decade. <\/p>\n
Their report revealed the annual price tag could top \u00a340billion in some years. <\/p>\n
The study compared two futures, one matching Labour\u2019s tougher clean-power plans, and another where Britain carries on broadly as it is now with more gradual emissions cuts. <\/p>\n
The slower path would still see electric cars rolled out, but many homes would keep gas boilers and some power stations would continue burning gas.<\/p>\n
In both cases, overall energy-related costs fall sharply from today\u2019s levels by 2050. <\/p>\n
But the Net Zero route only becomes cheaper after 2046, and is far more expensive in the early years.<\/p>\n
Government officials pushed back, insisting the figures \u201cdo not reflect or predict\u201d the actual cost of going green. <\/p>\n
Energy Security Ed Miliband plans to get the UK to Net Zero by 2050Credit: Alamy<\/p>\n
Green groups say renewables offer more protection from extreme price shocksCredit: Alamy<\/p>\n
They said clean energy will bring long-term savings, boost energy security and support skilled jobs.<\/p>\n