ED Miliband’s drive to Net Zero could see bills rising by £90, warns the energy watchdog.
Ofgem this week said electricity charges could soar due to “increased investment required in networks as part of the energy transition”.
Ed Miliband’s drive to Net Zero could see bills rising by £90[/caption]
Shadow Energy Secretary Claire Coutinho said: ‘Ed Miliband promised to cut your energy bills by £300 but they are about to be almost £200 higher than when he took office’[/caption]
Under current projections, it said electricity standing charges will rise from about £190 in April 2025 to £230 by April 2026, and £280 by 2031 — but other factors could make it higher or lower.
Energy Secretary Mr Miliband has pledged the UK will become a clean energy superpower, which means upgrading networks so the grid can cope.
But Shadow Energy Secretary Claire Coutinho said: “Ed Miliband promised to cut your energy bills by £300 but they are about to be almost £200 higher than when he took office — and are just going to keep going up under Labour.
“This is the real cost of Labour’s fanatical obsession with Net Zero.
“Higher bills, less growth, and fewer jobs.”
An Ofgem spokesman said: “This investment in the gas and electricity network is estimated to increase network charges on bills by around £100 by 2031.
“Around half is for essential maintenance and upgrades that would have been needed regardless.
“The remainder represents investment needed to upgrade our future energy system.”
It said the work is intended to “maximise use of renewables, increase energy security and cut reliance on volatile markets” — to protect from fluctuations in bills.
Ofgem yesterday revealed household energy debt has hit £4.43billion — with 1.1million electricity customers in arrears without any repayment arrangements.
