UK energy bills to rise by £108 to pay for infrastructure upgrades
Major announcement made on UK energy bills
- Britain's energy watchdog, Ofgem, has approved an initial £28 billion investment to upgrade the UK's energy infrastructure.
- This decision will result in an increase of £108 in network charges on household energy bills by 2031.
- The final verdict on price controls for energy network firms over the next five years raises the allowed investment from a provisional £24 billion.
- The funding includes £17.8 billion for gas transmission and distribution networks and £10.3 billion for the high-voltage electricity network.
- Network charges, which make up about a fifth of average annual energy costs, will see a rise of £48 for gas networks and £60 for the electricity grid.