Energy bills to rise £104 despite price cap drop
Annual home energy bills will rise more than £ 100 after approved the UK’s Energy Watchdog after confirming an investment of 24 billion £ 24 billion to increase the Energy infrastructure of the UK.
An announcement was made because the energy price fell by 7 percent on Tuesday.
Ofgem’s draft decision on price controls for energy network companies is more than £ 15 billion for gas transmission and distribution networks by 2031 in five years.
It is allocated £ 8.9 billion for the country’s high -voltage electricity network.
This financing aims to facilitate the completion of 80 large infrastructure projects by 2030.
The movement is compatible with the government’s forcing to support the renewable sector of the UK, a critical step towards increasing national energy security.
However, Ofgem announced that they will see that the invoices increased by 2031 to £ 1041 to meet the cost of the extra investment of the households.
The regulator said it would contain £ 30 for gas networks and £ 74 for the electricity network.
He said that the bills would be even higher – more than 30 £ more – without investment.
Financing, Britain, “clean renewable energy will allow better use, so we do not have to pay for expensive gas plants to offer demand,” he said.
Ofgem General Manager Jonathan Brearley said that the big investment in energy networks is vital to ensure that the system has more durability against shocks from variable gas prices we do not control ”.
He said: “Not to do anything is not an option and cost consumers more expensive – this is the critical national infrastructure.
“The sooner we build the network, the lower the cost for Billpayers when investing to strengthen our flexibility.
“However, this cannot be done at any price, so we have developed cost controls and negotiated a fair agreement for both investors and consumers.
“And if the network companies do not deliver on time and on the budget, we do not hesitate to intervene.”
