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UK energy bills could top £2000 a year by 2016

Ofgem, the energy regulator, has today revealed that an additional £200 billion will be required over the next 10 years if the UK is to meet carbon emission targets. This will result in the average UK energy bill approaching £2000 a year by 2016 which is a massive 60% increase on energy costs today. Coming at a time when UK consumers and businesses are paying record energy bills this is not a helpful situation for the UK public.

While it has been known for some time that additional funding would be required in order for the UK to meet carbon emission targets, many people believed that the increase in bills over the last two years had included part of this investment. However, it now appears as though this is not the case and effectively today is day one of the requirement to raise at least £200 billion over the next 10 years.

Yet again it is the consumer and businesses which will pay the price and many people are dismayed that Ofgem has allowed the government and the energy companies to pass on this cost to the UK public. What exactly has Ofgem done for UK customers? Which side of the fence is Ofgem sitting?

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