IEA Energy Analyst comments on quashed £15 million energy saving campaign
7 October 2022
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4 July 2024
Commenting on the reports, Andy Mayer, Energy Analyst at free market think tank the Institute of Economic Affairs, said:
“The Prime Minister’s instincts to reduce Government nannying are correct, but not in this case.
By implementing socialist price controls, spending £100-200bn to subsidise energy use without new supply, the risk of blackouts has risen.
Spending a further £15m on an energy saving campaign to reduce that risk is not wasteful.
It would only have to nudge use down by a fraction to break-even, and a larger response is more likely.
No one wants a return to campaigns involving sad polar bears, exploding children and patronising diet advice, but we want dark streets and cold homes even less.”
ENDS
Notes to editors
The author does not support the Energy Price Guarantee or business scheme. Andy’s alternative would have cut taxes and raised targeted benefits, preserving the price pressure on use, avoiding the need for this campaign. https://iea.org.uk/media/scrap-the-energy-price-freeze-plan-in-favour-of-targeted-welfare-and-tax-cuts/
The National Grid has warned the risk of blackouts has risen in their latest scenarios. Report: https://www.nationalgrideso.com/document/268346/download
Contact: media@iea.org.uk / 07763 365520IEA spokespeople are available for interview and further comment.The mission of the Institute of Economic Affairs is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems. The IEA is a registered educational charity and independent of all political parties
“The Prime Minister’s instincts to reduce Government nannying are correct, but not in this case.
By implementing socialist price controls, spending £100-200bn to subsidise energy use without new supply, the risk of blackouts has risen.
Spending a further £15m on an energy saving campaign to reduce that risk is not wasteful.
It would only have to nudge use down by a fraction to break-even, and a larger response is more likely.
No one wants a return to campaigns involving sad polar bears, exploding children and patronising diet advice, but we want dark streets and cold homes even less.”
ENDS
Notes to editors
The author does not support the Energy Price Guarantee or business scheme. Andy’s alternative would have cut taxes and raised targeted benefits, preserving the price pressure on use, avoiding the need for this campaign. https://iea.org.uk/media/scrap-the-energy-price-freeze-plan-in-favour-of-targeted-welfare-and-tax-cuts/
The National Grid has warned the risk of blackouts has risen in their latest scenarios. Report: https://www.nationalgrideso.com/document/268346/download
Contact: media@iea.org.uk / 07763 365520IEA spokespeople are available for interview and further comment.The mission of the Institute of Economic Affairs is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems. The IEA is a registered educational charity and independent of all political parties
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