Is it fair to subsidise the energy industry?
After issuing a warning that UK consumers and businesses can expect to see energy costs increase because of the need to invest into a new breed of nuclear energy plants, the UK government has prompted the question - Is it fair to subsidise the energy sector?
The problem is, as we touched on in one of our earlier post, the vast majority of UK energy companies are owned by foreign parent companies who are well aware that the UK government is in need of assistance. As a consequence, the vast majority of UK energy companies will hold out for greater government investment and subsidies to help with the cost of the next generation of UK nuclear plants. Whether this is fair or not is debatable but ultimately the UK is in need of significant investment into this particular sector and it needs to happen very soon.
It seems that UK consumers and businesses are being hit on all sides with the recent announcement that investment into the "green energy arena" will also lead to significant a hike in energy costs. When you add in the increased costs associated with the nuclear power industry in the UK, the government looks to have given the energy companies a free run with a "toothless" energy regulator following behind.
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