We all need renewable energy so why is the Government still lining Conglomerates pockets?

The Government is wrong to cut the FIT payments (subsidies) to domestic and community Green energy.

Amber Rudd, the energy minister, announced a series of cuts earlier this summer, including a reduction in the guaranteed price paid for electricity generated by new rooftop solar installations by up to 87 per cent. The government has said the existing levels of support are no longer needed as the industry has reached critical mass – and that it must act to protect customers, who ultimately pay for subsidies through green levies paid by suppliers and passed on in energy bills.

If it was a purely subsidies to “green” energy then I could understand it – let them compete on a level playing field with all the other commercial generators, (coal, gas, nuclear etc.) but it’s not.

The new Hinckley point Nuclear PowerStation is getting a vast amount of OUR money in subsidies – remember it’s the Chines that are building it).

The Government is planning to slash generation tariffs for new domestic installations by 83 per cent from the start of next year to 1.63p per kilowatt hour (kWh) — though they will still get an additional 4.85p for every kWh exported to the National Grid.

By cutting this subsidy it will give us all back the vast amount of £6 a YEAR off our energy bills.

The total solar capacity of the UK is now eight gigawatts. However, Government estimates show the proposed cut in the generation tariff could cost the UK six gigawatts of renewable energy in the future. 

EDF's £25 billion Hinckley Point C nuclear station will generate 3.2 gigawatts — i.e. half the energy potentially being lost changing the renewable scheme. 

But look at what vast subsidies the Government is giving EDF to build this Nuclear Plant. Yes, we need it but surely it would be preferable and fairer to give a smaller subsidy to you and me to be more energy efficient and Greener? Not give enormous sums to these vast multinational conglomerates?

The Government has guaranteed energy giant EDF and its partners will receive at least £92.50 for every mega-watt hour of electricity generated by Hinckley Point C — twice the current market price — and that figure will rise with inflation.

Some estimates suggest total subsidies to the project could cost tax-payers £76 billion — that's £2,870 for every household in the UK. 

By comparison commercial solar energy generators get an average £68 per megawatt hour — almost a third less than nuclear. Scaling that down to household proportions the nuclear option receives 9.25p per kWh compared to commercial solar's 6.8p.

If the cuts go ahead, homes with solar would get 4.055p per kW (if they continue to be paid the export tariff for half of the energy they produce).

The Energy Saving Trust has published a review into the cuts for renewable energy. It argues that the residential generation tariff could be set at 5.5p or 6p per kWh — around half the current levels — which, with falling installation costs, would still leave solar looking attractive.

This wouldn't save as much, but it would still knock £3 a year off a household energy bill.

Yes, we need Nuclear or the lights will be dimming,  but surely it would be preferable and fairer to give a smaller subsidy to you and me to be more energy efficient and Greener? Not give enormous sums to these vast multinational conglomerates?

Spend it while you can.

No hope for the thrifty.

As I said before used to be you saved up and lived within your means. Not now.

With inflation at 2.8% and savings rates at less then 2% before tax you're losing money fast. 

Spend it now before you can't afford the things you want. Or live on borrowed money while its cheap. I think every body is doing but isn't that why we're in this mess?

sCameron and the Osborne Conspiracy don't get it. They are RICH after all and in with the Bankers.

Government is hurting the Thrify who voted for them

Yes if you have any savings spend it before its worthless. Just like Germany in the 30s. We'll need suitcases of money to shop at the supermarket.

Seriously with low interest rates even low inflation - but that is higher than interest  - is eroding your nest egg.

I thought that the idea was that Banks/Building societies raised funds from Savers by offering them interest.

When they had the funds then they lent it out to Borrowers (mortgages etc.), they pay interest.

So providing you,  (Bank/Building Society),  receive more in interest than you pay out you are profitable.

Now we have another situation the Banks (Building Societies?) get “free” money from the Government to Lend out thus they don’t need savers money. But where does the Government get its money from? I guess us? SO actually this is a win win for the banks they’ve nothing to lose hence the Fat bonuses.

It’s about time the government was told by US that they must stop and go back to the old system. If interest rates were raised then Savers would save and the money would be there to lend out. Remember the interest paid is TAXED so the government gets a cut too.

Interest Rate Rip Off

Isn't it about time the Government did something to help the honest thrifty people who have propped up this country for years?
I mean the more mature people who were brought up where you "saved up" before you bought anything. Not borrowing to the hilt. We see our savings dwindling now. 2 or 3 percent interest is criminal.
Inflation at 5% means your money is going down. Why save?
We thought we'd save for our future but what future? Surely they should encourage saving because sure as hell there won't be a decent pension! The only borrowing you did was your mortgage and most of us have paid that off now thank God.

We all know who's got the money - the BANKERS.