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Energy Bills to Rise by More than £100 in Next Six Years - Liverpool Echo
- Recently, Ofgem approved a £24 billion investment to upgrade UK energy infrastructure, emphasizing resilience and supporting decarbonisation efforts.
- Ofgem's £24 billion approval is part of an £80 billion scheme to decarbonise the UK grid by 2030, supporting renewables and nuclear expansion.
- NESO's analysis confirms 80 transmission schemes, 4,400 km of upgrades, and a two-thirds reduction in constraint payments, highlighting the scale and potential savings of the project.
- Ofgem forecasts household bills will rise by £104 annually by 2031, offset by £80 savings, resulting in a net increase of approximately £24 per year.
- Ofgem's consultation closes later this year, with a final decision due by 2025, covering the 2026–2031 regulatory period for energy network upgrades.
11 Articles
11 Articles
Since Tuesday, July 1, a new increase in the price of electricity accounts comes into effect, after a readjustment in the price of the supply tariff.The modification of the values is determined by the Definitive Technical Report for the Fixing of Average Knot Prices of the National Electrical System, which was issued by the National Energy Commission in May, in which variables such as the price of the dollar and the CPI are considered.This resol…
Ofgem: Net Zero Will Add £104 to Household Energy Bills by 2031
Ofgem signed off on a £24 billion investment into Britain’s power network today – including major electricity upgrades – all to chase the green dream of hitting Net Zero. As always, it’s the British public picking up the tab… This massive spend will be funded through levies on household energy bills, with Ofgem confirming an added £104 to network charges by 2031.[…] Read the rest
Energy bills to rise by £104 despite price cap drop under Ofgem's £24bn network overhaul
Ofgem has approved an initial £24 billion investment programme to upgrade the UK's gas and electricity infrastructure, a move that will increase household energy bills by £104 by 2031
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