UK Energy Costs to Surge Due to High Interest Rates

A new report predicts a significant increase in UK energy bills by 2050, driven by elevated interest rates affecting green energy investments.

A Resolution Foundation report forecasts a £29 billion annual increase in UK energy bills by 2050 due to persistently high interest rates.
High borrowing costs disproportionately impact low-income households, exacerbating financial strain.
Investments in green energy, although initially costly, could lead to long-term savings if interest rates decrease.
The report suggests using government funds for energy infrastructure to alleviate the financial burden on consumers.
Experts emphasize the necessity of continuing with green energy transitions despite the high costs, to mitigate broader economic and environmental risks.