We all want a carbon tax, right? It can help us Save The Planet!!
But there are unintended consequences:
Step 1: Government taxes the electricity companies who use gas and coal — Great!
Step 2: Electricity companies put their prices up to cover the tax — Not so great, but I suppose I’ll pay…
Step 3: Nuclear electricity generators put their prices up to match the new Market Price, … But they haven’t paid the Carbon Tax…
Step 4, Result: Windfall profits for nuclear energy!, effectively subsidised by the Government/Taxpayer (=You and Me) — That’s not what I wanted at all!!
If you want to stop this situation happening you can write to Treasury Minister Danny Alexander (danny.alexander.mp [at] parliament.uk) and your own MP (huntj [at] parliament.uk), and ask them to:
- support Amendment 12 to the Finance Bill
- place a windfall tax on nuclear operator’s windfall profits
which should then
- be recycled into the Green Investment Bank
If your MP is not Jeremy Hunt you can find their email address here: http://www.writetothem.com/
There is more background info here.