£200 billion modernisation bill could see energy prices soar

As well as the environmental arguments for solar energy which have got homeowners and businesses in the UK reaching for the Internet to find out more about the costs of installing solar hot water and photovoltaic panels on their properties, there’s also the issue of rising energy costs to consider.

As this piece from Energy Choices highlights:

“Rising energy prices and the cost of modernising power stations will mean our energy bills could rise 60% by 2016. Consumers and power companies face a bill of £200 billion over the course of the next 15-20 years to modernise energy generation in the UK, and ensure the nation has enough gas and electricity.

Energy regulator Ofgem unveiled the findings following publication of its Project Discovery, which outlines the prospects for secure and sustainable energy supplies over the next 10-15 years.

Ofgem’s four scenarios that could all hike our bills are…”. Click here to read the full story at Energy Choices.

photo credit: markhillary

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