Bishop Hill Will renewables kill off Scottish independence?
Nov 8, 2011 Economics Energy: costs Scotland H/T to a reader for this from the Telegraph a few days ago.
Thee Prime Minister cited an analysis by banking giant Citigroup that said Scottish home owners and businesses would have to provide £4 billion of subsidies per year to make wind and wave farms economically viable.
Distributed to companies across the world, the report warned them to exercise “extreme caution” over investing in Scotland before the SNP’s separation referendum as a ‘yes’ vote could render green energy plants “unaffordable”.
The Citygroup study said green energy currently relies on subsidies paid by all 27 million UK households and 4.5 million businesses. Scotland only accounts for eight per cent and five per cent of these totals respectively.
English and Welsh taxpayers would be highly unlikely to agree to continue paying this money to a “foreign country” post independence, it said, leaving green energy investors with “stranded” assets.
Now I see - Cameron's obsession with renewables is a way to keep the UK together.
Reader Comments (53)
Could kill the electrical supply industry as well. From The Engineer
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"would have to provide £4 billion of subsidies per year to make wind and wave farms economically viable"
They should have said ... would have to provide £4 billion of subsidies per year because wind and wave farms are not economically viable.
What a laugh.
does the scottish Andy Murray ever win anythihg that matters?