The UK’s Climate Change Committee (CCC) has issued a warning, stating that the recent policy decisions by the UK Government to backtrack on its net zero emissions commitment may lead to an increase in energy bills for the public.
The CCC’s findings reveal concerns about the economic impact of these policy changes on households.
Moreover, the CCC has noted that delaying the phaseout date for fossil-fuelled cars to 2035, combined with the newly confirmed Zero Emission Vehicle mandate, could lead to indirect consequences.
The committee expressed concerns about the potential impact of this decision on consumer confidence and inward investment in electric vehicle manufacturing.
In addition, the CCC pointed out that the cancellation of regulations for the private-rented sector could result in higher household energy bills.
The regulations in question were designed to reduce renters’ energy costs significantly, especially in the current context of elevated energy prices.
The CCC is urging the government to adopt greater transparency in providing estimates of the impact of policy changes on energy bills at the time of major announcements.
This would help in understanding the full consequences of these decisions and their effects on both households and the broader economy.
Professor Piers Forster, Chair of the CCC, said: “We remain concerned about the likelihood of achieving the UK’s future targets, especially the substantial policy gap to the UK’s 2030 goal.
“Around a fifth of the required emissions reductions to 2030 are covered by plans that we assess as insufficient. Recent policy announcements were not accompanied by estimates of their effect on future emissions, nor evidence to back the government’s assurance that the UK’s targets will still be met.”