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July 8, 2020

UK to see increased energy bills due to Covid-19-related subsidy costs

The Covid-19 lockdown and decreased energy demand have resulted in increased costs to supporting renewable subsidies over the UK, both in terms of cost per megawatt-hour (£/MWh), and overall expected spend for 2020-21, according to research from energy analyst Cornwall Insight.

By Yoana Cholteeva

The Covid-19 lockdown and decreased energy demand have resulted in increased costs to supporting renewable subsidies over the UK, both in terms of cost per megawatt-hour (£/MWh), and overall expected spend for 2020-21, according to research from energy analyst Cornwall Insight.

The ‘Third-Party Charges forecast’ report predicts a rise in the total cost of renewable subsidy schemes, above £10bn in 2020-21, as a result of the Covid-19 lockdown.

The £/MWh impact on suppliers is also expected to be approximately 5.4% higher and reach £40/MWh in total.

Read the full article here

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