The government should act ruthlessly to cut subsidies paid to green energy producers in order to reduce household bills, a report has recommended. The Policy Exchange thinktank said renewable energy subsidies should be cut if the technologies fail to come down in cost under strict time limits. The report urges the government to hold the offshore wind industry to claims it can reduce its costs significantly by the end of the decade.

Earlier this month ministers increased state help for offshore wind, with a strike price – or minimum price the government will pay – of 140 british pounds/MWh for 2018/19, 5 british pounds higher than planned. But the Policy Exchange report argued that the offshore industry aimed to get its costs down to 100 british pounds/MWh for projects beginning in 2020.
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