Scots face eye-watering energy bills for years to come due to windfall taxes and the shift to green energy, the boss of one of Europe’s biggest oil companies claimed
.
Meanwhile, green groups and unions have called for the UK’s National Grid to be brought entirely into public ownership to force a speedier phase-out of fossil fuels. "This will require a lot of investment and these investments need to be paid - so, I would assume that energy bills will maybe be slightly higher than in the past.”
However, campaigners say the project flies in the face of climate targets. It comes as the Unite union claimed the National Grid was being used as a “state-sponsored cash machine” for shareholders - instead of investing profits in initiatives to cut carbon. But Molly Scott Cato, from the Green Party of England and Wales, said the entire organisation should be state-run.
It follows a report by the Common Wealth thinktank which found the business had paid investors almost £9billion in dividends and share buyback schemes over the last five years.
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