More evidence that net zero predictions understate true costs

David Turver, author of the report “The Cost of Net Zero”, published by the Institute of Economic Affairs, said: “Today’s AR7 results show yet again how official estimates have underestimated the true cost of net zero. Offshore wind is being awarded 20-year index-linked contracts at an average strike price of £90.91/MWh in 2024 prices or ~£95/MWh in 2025 prices. This compares to NESO’s official estimate of £53/MWh in their recent estimate of the cost of net zero which came up with total costs of over £7tn. Net zero is going to be far more expensive than officials estimate.”