Rising energy bills fund green Britain

mattEnergy Efficiency, Utilities Market Regulation

Ofgem say energy bills may rise by 100% over the next decade in order for Britain to reach its green targets.

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The cost of upgrading the UK’s energy infrastructure is expected to be covered by customers’ rising energy bills.

Ofgem have said that a sum of £32 billion is required over the next 10 years in order to support the rejuvenation of the distribution network.

This means domestic gas and electricity bills will both rise by an estimated average of £3 per year up to 2020.

The £32 billion sum is attributed to the physical systems that transport electricity and gas around the country such as pipes and cables.

There are warnings that this is a conservative indication of the price rises that are to come for energy consumers.

The £32 billion is part of a total £200 billion spending over the next 10 years in order for the government to hit renewable energy and carbon reduction targets.

You can find information on the various renewable energy projects being explored by the UK energy industry here.

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