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Energy customers are hit AGAIN by extra costs as grid is upgraded
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Household energy bills are to rise – AGAIN – in order to fund investment in the transmission network. Wasn’t this work supposed to drive bills down?
Here’s the BBC:
“Household energy bills will rise to help fund a £28bn investment in the UK’s energy network.
“Energy regulator Ofgem has approved the funding in a five-year plan to improve electricity and gas grids. The money will go towards maintaining gas networks and strengthening the electricity transmission network.
“The work is estimated to add £108 to energy bills by 2031.
“But Ofgem said people would end up saving about £80 more than they otherwise would, as the investment will help lower the reliance on imported gas and make wholesale energy cheaper, leading to a net energy bill rise of about £30 a year.”
I’m old enough to remember what we were told when privatisation was announced, back in the 1980s – that bills would be cheaper and the system would be upgraded, due to private investment.
This announcement is the latest proof that those claims were fantasy from the start.
To read the rest, head over to The Whip Line.
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