2050 UK energy bills could rise by £29bn annually due to high interest rates impacting green investments.

A Resolution Foundation report warns that high interest rates could increase UK energy bills by £29 billion ($36 billion) annually by 2050, as green investments lock in high costs over the long term. Green power being more capital intensive than fossil fuels, leaves overall costs vulnerable to changes in interest rates. If interest rates remain high, energy costs could rise instead of falling in the years ahead.

April 22, 2024
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