Britain’s energy regulator Ofgem has warned that European Union rules which must be implemented in Britain will cause “power blackouts”, while a consumer group has warned that the cost of investment in “carbon friendly technologies” will lead to dramatically increased consumer energy bills.

The revelations are a damning indictment on the privatisation policies pursued by both Tory and Labour parties and their continued insistence of Britain’s membership of the multi-billion swindle known as the European Union.

In a report by Alistair Buchanan, Ofgem’s Chief Executive, Britain’s energy problem was described as a “crisis.” Mr Buchanan said the problem had been compounded by what he called an “unholy trinity” of factors, including the impact of the (bankster-created) recession on energy industry investment, Britain’s growing reliance on imported gas as North Sea supplies are depleted and the closure of nine coal and oil-fired power stations by 2015 in order to meet EU laws.

The closure of those power stations alone will see Britain lose a third of its electricity generating capacity.

In addition, the Ofgem report said, European targets for cutting greenhouse gas emissions and developing renewable energy “will create a huge demand for investment over the coming decade. The £200 billion needed to achieve the most ambitious goals for renewable energy would mean doubling the rate of investment seen over the past 10 years,” it said.

The Ofgem report notes that investment in low carbon technology is being hampered by uncertainty over the carbon price. The EU’s emissions trading scheme is supposed to achieve the right price to encourage investment and reduce carbon emissions but Ofgem has suggested that the UK may have to introduce its own minimum price in order to promote the required investment to meet EU renewables targets.

Meanwhile, news reports have quoted Ann Robinson, of the price comparison website uSwitch.com, as saying that energy bills could reach around £5,000 by 2020 in order to cover the investments as demanded by the EU and the “emissions trading scheme.”

What all this means in plain English is that consumers will be forced to pay ever-increasing amounts for their energy to cover renewed investment in a supposedly privatised industry — because that industry’s first obligation is to pay its (largely foreign) shareholders a dividend before reinvesting in infrastructure in Britain.