Electricity cost in UK

[otherclive]

When and if we ever get close to Net Zero, I wonder where will the government will get the money to replace the money that has been lost due to no VAT or duty income from fossil fuels and associated areas like vehicle servicing and motor spares.

As there will be enormous job losses with many staying unemployed another VAT loss as they will not be spending money. Also losses from probably not being able sell oil to overseas markets?

How has Norway been able to cope?

For motoring and road vehicles you will probably pay per mile of usage and modified by time and and area of use. Taxes can be applied to usage, energy consumption when charging, plus flat rate road use too. Electric vehicles still need servicing and parts just as ICE. The work involved in a modern ICE service comprises mainly checks. There will undoubtedly be job losses, but there will be job gains too. The demographics show a declining work force so it may be that controlled immigration may be required over the period of transition.

How has Norway coped ? Could it be that they looked at their long term strategic objectives and not for short term gain which was, and is, the U.K. approach to investments.

 

[GUMPY]

Norway kept it's oil and gas in house.
UK sold it's oil and gas off
That's why Norway is so rich as it kept the profits rather than giving them away.

 

[PTA]

Norway also used its oil revenues to build a huge sovereign wealth fund instead of using them to fund short term tax cuts.

 

[otherclive]

I was reading that a consortium including Octopus are seeking to develop a high voltage dc cable called Xlinks from Morocco to U.K. The cable will bring electricity estimated at 8%?of U.K. demand from a huge solar and wind farm the size of London. A factory to be built at Hunterstone would be the world’s first dedicated HVDC cable production plant and employ 900 people. In Morocco the construction will employ 10000, and 2000 when it is operational.

An exciting prospect if it goes ahead.