The U.K. has blanketed large swaths of their countryside in wind farms in recent years, though they supply but a fraction of energy needs; over two-thirds of electricity is generated by coal- and gas-fired power plants. In the midst of the coldest March in 50 years, their brain-trust this week will impose a "carbon tax" of nearly $46 per ton of CO2 emitted by the plants; a figure that will rise to nearly $150 per ton in 2030.
This will effectively shut down the plants, and adjustments have already begun:
As the snow of the coldest March since 1963 continues to fall, we learn that we have barely 48 hours’ worth of stored gas left to keep us warm, and that the head of our second-largest electricity company, SSE, has warned that our generating capacity has fallen so low that we can expect power cuts to begin at any time.
Brits will get to pay more - much more - for less energy. Expect a run on parkas.