Net Zero: Boris Johnson ‘wants energy prices to rise’ says expert

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Energy analyst Andy Mayer claimed the Government is letting energy prices rise in a bid to speed up the move to net-zero emissions Boris Johnson has been pushing for. Britons have been warned they could face gas and electricity bills up to 50 percent higher in the coming years as the UK enters a “national crisis” as the energy industry pleaded with Boris Johnson to intervene to cut the costs. Speaking to GB News, Mr Mayer said: “The Conservative Party, for 20 years, was looking for a new ideology to replace Thatcherism which it regarded as being somewhat tarnished and tainted during New Labour was in office.

“They were looking for a kinder, gentler conservatism and, in the process, they found green ideology instead which net zero is the latest incarnation of.

“That requires you to take a very hard-line position on making energy more expensive because the only way you accelerate net-zero behind the speed that the market is prepared to deliver it is by forcing up prices.

“We are now two to three months into an entirely predictable energy prices crisis where the only reasonable insight is that the Government wants this to happen.

“They do not care, they want energy prices to rise, they want people to pay more, they want those higher prices to deliver low-carbon energy solutions, including energy efficiency in homes which, if prices remain this high, people will be incentivised to invest in.”

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He added: “This is not an accident, this is a matter of deliberate Government policy. If they really cared about it, they’d be doing a lot more than they’re doing at the moment.”

But Energy Secretary Kwasi Kwarteng will meet with chief executives of major suppliers on Monday to discuss how to address the rising costs of gas and electricity.

According to The Times, the bosses are likely to ask for tax cuts and the relaxation of green levies.

The Energy Secretary has already been talking to chief executives individually.

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Fears of runaway household bills in the new year have been mounting since rising gas prices began bankrupting suppliers in September.

Since then, prices have risen from 54p per therm of gas to £4.50.

Energy suppliers in the UK have been subject to a price cap put in place by Ofgem since 2019 to limit the amount they can charge customers. With the rising prices, many say they were paying more for gas than they could charge.

The cap is moved twice a year based on the price of energy and is due to next be changed in April.

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The cap takes into account the price of energy, but it is not changed often enough to keep up with this year’s steep rises.

When prices went up, suppliers soon faced a difficult situation where it cost them more to buy gas than they were allowed to sell it for.

Since early September, dozens of suppliers have bowed out of the market, with experts predicting further failures.

The episode has exposed several flaws in how the market works, and will likely lead to permanent changes.

Many energy suppliers should probably have insured themselves against price rises.

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