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Britain Faces the Prospect of Blackouts

We draw to your attention an interesting report which appeared in the Daily Mail regarding the bleak future for the UK unless they spend two hundred billion pounds

Britain faces the dire prospect of blackouts and higher bills in the years ahead unless radical action is taken.

Today’s stark message from energy regulator Ofgem came with the warning that many people would struggle to pay power bills of up to £2,000 a year.

Setting out its plans for safeguarding Britain’s power supplies, Ofgem warned that sticking with the current market was ‘not an option’. he regulator said the industry needed £200bn of investment by 2020 but

In its report, which took a year to complete, it said the financial crisis, increasing gas import dependency and the closure of aging power stations demands far-reaching energy market reforms to meet tough environmental targets and keep the lights on.

One of the options recommended by Ofgem is as follows:

4)Subsidise new nuclear power plants. The government has so far refused to help pay towards their construction. But it may be preferable to pay out as the alternative is higher energy bills for the taxpayer.