Households are being told to “accept higher pricing” when it comes to energy bills if net zero is to be achieved.
Joe Kaesar, the chairman of Siemans Energy, has claimed energy bills will need to rise to facilitate the move to a green economy.
Speaking to The Telegraph, the boss of the UK’s biggest wind farm manufacturer warned the British public will have to come to terms with the long-term cost of net zero.
He explained: “Every transformation comes at a cost and every transformation is painful. And that’s something which the energy industry and the public sector – governments – don’t really want to hear.
Mr Kaesar made the comments while speaking to The Telegraph
GETTY
“I believe that for a while (customers) need to accept higher pricing.
“And then there might be innovation – about the weight of the blades, other efficiency methods, technology – so the cost can then go down again.
“But the point is, if there is no profit pool in an industry, why should that industry innovate?”
The UK Government has previously pledged to reach net zero by 2050, describing the goal and energy security as being “two sides of the same coin”.
Last year, Prime Minister Rishi Sunak said: “This country is proud to be a world leader in reaching net zero by 2050. But we simply won’t achieve it unless we change.
“We’ll now have a more pragmatic, proportionate, and realistic approach that eases the burdens on families.
“All while doubling down on the new green industries of the future. In a democracy, that’s the only realistic path to net zero.”
Britons have been saddled with rising energy bills during the cost of living crisis over the last two years.
Robert Johnson is a UK-based business writer specializing in finance and entrepreneurship. With an eye for market trends and a keen interest in the corporate world, he offers readers valuable insights into business developments.
