Net Zero Will Add £104 to Household Energy Bills by 2031 – Guido Fawkes

Ofgem: Net Zero Will Add £104 to Household Energy Bills by 2031

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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. Of that increase, £30 relates to depreciation off the gas network, and £74 to upgrading the electricity grid to shift toward clean power. Ofgem warned this figure could balloon even further thanks to payments to wind farms for switching off when there’s too much wind. Remember when Ed Miliband promised bills would go down by £300? Another pipe dream…