Annual Energy Bills 'To Rocket By 2020' - Fact or Fiction?

Annual Energy Bills 'To Rocket By 2020' - Fact or Fiction?

Annual household energy bills could rise by more than £600 within seven years so power companies can keep the lights on.

Gas & Electricity may cost more in the future

Sky News has learned the watchdog has written to the Treasury ahead of next week's budget to warn of rising costs.

In a new forecast, consumer champion Which? has predicted energy companies will need to spend £118bn on new infrastructure between now and 2020.

This would include building new power stations, replacing grids and building wind farms as part of a drive to sustain Britain's power supply and cut down on carbon emissions.





Which? believes this cost will inevitably be passed on to consumers, and that households and businesses will foot the bill.

This would mean that the average bill would exceed £2,000 a year even if wholesale costs of gas and electricity remain stable - an annual rise of £640 per household.

Richard Lloyd, executive director of Which?, said: "I don't think consumers know that this is heading their way and that decision has already been made by the Government.

"This is a massive chunk potentially on everyone's bills. This means one thing: that household bills are set to rise, and to rise for many people very steeply for the foreseeable future."

Source: Yahoo