The price of energy is rising as the government continues to subsidise renewable energy.

The price of energy is rising as the government continues to subsidise renewable energy. This was announced by the Department for Business, Energy and Industrial Strategy on October 27th, who said that households would be paying an extra £100 a year by 2023. It’s not just households that will be affected by this rise, but businesses too. It’s predicted that companies will see their bills increase by £1 billion a year in the same time period.

The reason for this rise is due to the amount of money being spent on renewable energy subsidies. In 2017, it was announced that household bills would increase due to more money being spent on green technology, with an extra £60 a year added to electricity bills and an extra £11 a year added to gas bills. This trend has continued into 2019 and 2020 as well, with another £60 a year added to electricity bills and another £11 a year added to gas bills.