By Paul Homewood
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As we guessed, it appears that most of Ed Miliband’s £21 billion bung to carbon capture projects will end up being paid for through our energy bills.
The Telegraph report that a senior civil servant has revealed that three quarters of the cost will be funded by levies on electric and gas bills. Although this will be spread out over a number of years, the overall cost to households would be over £500 each.
So much for Miliband’s lie that energy bills would be cut by £300 a year!
So far the carbon saving from the first £4 billion tranche of funding is only reckoned to save 2 Mt of CO2 a year.
