Energy Secretary Ed Miliband (Image: Getty)
Green energy subsidies are set to jump 60% by the end of the decade, new figures have revealed. Data from the Office for Budget Responsibility shows the cost of subsidising renewable energy will hit ￡19.7 billion by 2030.
This is up 60% from ￡12.3 billion in the last financial year. It comes as Energy Secretary Ed Miliband is leading the Government's push to reach 95% clean energy in the UK by 2030.
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Tory MP Nick Timothy insisted said Mr Miliband should be honest about the “hidden” cost of reaching net zero by subsidising green power.
He told The Telegraph: “We need an honest debate about the full costs of decarbonisation.
“Pushing renewables has created a complex system of subsidies and regulations in which Ed Miliband is concealing the true costs of his green policies.
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“On top of subsidies for renewable energy projects, there are the costs of paying gas-fired plants when renewables fail to generate enough power or paying renewables more when they generate too much."
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Conservative leader Kemi Badenoch last month warned that reaching net zero emissions by 2050 is "impossible" without hitting living standards.
A spokesman for the Department of Energy Security and Net Zero said: “As shown by National Energy System Operator’s independent report, clean power by 2030 is achievable and will deliver a more secure energy system, which could see a lower cost of electricity and lower bills.
“Levies drive investment in renewables and other generation technologies, which will secure Britain’s energy independence and protect bill-payers from future energy shocks.”