We can have cheaper energy and a clean environment if we stop pursuing contradictory policies. It is hard to fathom today, but for many years utility prices in Britain were on a steady downwards trajectory. In the wake of privatisation of electricity markets in 1990, household bills dropped by 26pc in inflation-adjusted terms. The real cost of electricity to industry also declined starkly, by between 25pc and 34pc depending on the size of the firm. That trajectory was accompanied by a progressive drop in the UK’s greenhouse gas emissions. In fact, since 1990 such pollution, widely believed to cause climate change, has declined by 38pc according to official figures. Nineties Britain thus had the best of both worlds: cheaper energy prices and a gradually cleaner economy. With strong economic growth during this period, living standards also rose across the board.
Telegraph 27th Oct 2017 read more »