Ed Miliband proposes eco levy increasing energy bills

Ed Miliband is planning to introduce a new eco levy that could increase energy bills for households. This proposal comes amid ongoing discussions about the government's Net Zero targets. Critics say these targets could hinder economic growth. The Energy Security and Net Zero Secretary is considering a levy on gas companies to help fund hydrogen projects. Government documents suggest that the costs will likely be passed on to consumers. The initial levy could be up to £4.50 a year, but experts warn it may rise significantly in the future as more hydrogen initiatives are launched. Andrew Bowie, the acting shadow energy secretary from the Conservative party, has criticized Miliband's plans. He argues that they contradict Labor’s earlier promise to lower energy bills by £300. Bowie believes the government should reassess its approach to Net Zero to reduce costs for consumers. Miliband is already facing scrutiny as energy bills have soared since he took office. However, the Department for Energy Security and Net Zero maintains that hydrogen production will stabilize energy prices in the long run and create new jobs. They state that any impact on bills would not occur before 2027, predicting costs of about £2.60 to £4.50 a year by then.