Plans for energy investment ‘will affect consumers’

Ofgem’s recent proposals to invest in renewable electricity generation will eventually have an impact on consumers, it has been suggested.

Price comparison site uSwitch.com said that although the investment is needed, it will eventually filter through so consumers are footing the bill.

It believes that the £233.5 billion investment programme could add around £548 a year to household energy bills.

Will Marples, Energy Expert at uSwitch.com, said: “Ongoing pricing trends coupled with this investment could see household energy bills hit as high as £4,733 a year by 2020 – nearly four times higher than they are today.”

He emphasised that although this may be an outside possibility, people need to act to make sure they are not stung by rising fuel prices.

uSwitch.com recently advised homeowners to take precautions such as keeping a torch and candles to hand in case more power cuts occur

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