𝓤𝓷𝓲𝓽𝓮𝓭 𝓝𝓮𝔀𝓼

Green energy subsidies are set to jump 60% by the end of the decade, new figures have revealed. Data from the Office for Budget Responsibility show the cost of subsidising renewable energy will hit £19.7 billion by 2030.

This is up 60% from £12.3 billion in the last financial year. It comes as Energy Secretary Ed Miliband is leading the Government’s push to reach 95% clean energy in the UK by 2030.

Tory MP Nick Timothy insisted said Mr Miliband should be honest about the “hidden” cost of reaching net zero by subsidising green power.

He told The Telegraph: “We need an honest debate about the full costs of decarbonisation.

“Pushing renewables has created a complex system of subsidies and regulations in which Ed Miliband is concealing the true costs of his green policies.

“On top of subsidies for renewable energy projects, there are the costs of paying gas-fired plants when renewables fail to generate enough power or paying renewables more when they generate too much.”

Conservative leader Kemi Badenoch last month warned that reaching net zero emissions by 2050 is “impossible” without hitting living standards.

A spokesman for the Department of Energy Security and Net Zero said: “As shown by National Energy System Operator’s independent report, clean power by 2030 is achievable and will deliver a more secure energy system, which could see a lower cost of electricity and lower bills.

“Levies drive investment in renewables and other generation technologies, which will secure Britain’s energy independence and protect bill-payers from future energy shocks.”