September 26: Government frittered away green energy opportunity

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From: Jack Caley, East Newton, Aldbrough, Hull.

The latest announcement of the Hinckley Point nuclear generator highlights to my mind yet another mismanagement in the generating industry.

This Government is supposed to pride itself on its financial management of the country’s affairs. How on earth it can congratulate itself on more or less giving £2bn to overseas “investors”, in order for them to collect guaranteed high prices which the consumer has to pay for goodness knows how many years is beyond me. The same applies to other parts of the generation industry, especially the offshore wind industry, but also including a fair proportion of onshore.

The structure of the onshore industry was bound to upset the Nimby objectors. Had the onshore wind industry followed the example of its Danish forerunners, there would have been far less opposition to industry which can make some contribution in the battle against climate change. It should also have been funded by British money, even if borrowed on the world market.

Green energy did represent an opportunity for structural investment and growth, but that opportunity has been frittered away by a government worse than Gordon Brown giving away our gold reserves.