EU green energy laws 'put 1.5m UK manufacturing jobs at risk'

BfB acknowledges “there is a good chance that the UK would have introduced similar policies had it been outside of the EU” and that the UK has “in some areas gone considerably further than the EU in introducing expensive policies”. Despite this the UK “enjoys relatively low energy prices compared to many other EU countries”.

However, it says this “should not cloud the fact that the EU does play a role in driving up the cost of energy and has introduced expensive policies”.

It notes that ministers have rejected EU moves for further renewable energy targets beyond 2020, arguing that decarbonisation targets allow countries to pursue cheaper ways of going green.

Opting out of the existing renewables target could see manufacturers’ bills fall by up to 7 per cent, the report claims, although its authors do not explain how this would happen. Most of the RO costs already on bills are for projects that have already been promised they will be paid the subsidies for at least a decade.

The report estimates that the total costs to the UK economy of policies that help meet EU energy laws could be as much £93.2bn. Its authors said this was based on adding up the net impact figures from UK government impact assessments. This includes policies implemented since the 1970s, and includes the lifetime costs and benefits of some policies extending several decades from now.

BfB’s board includes John Mills, the chairman of JML and Labour party donor, while its advisory council includes Roger Bootle, David Buik, Sir Christopher Meyer and Helena Morrissey.

The group was founded around a mission statement calling for a renegotiation of the terms of Britain’s EU membership, which has been backed by City grandees including Lord Wolfson, chief executive of Next, and Lord Rose, the former Marks & Spencers chairman.

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