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Energy bills to rise after Ofgem approves £24bn investment
Western Mail
|July 02, 2025
BRITAIN'S energy watchdog has given the go-ahead to an initial £24bn of investment to upgrade infrastructure, but revealed the move will push up network charges on household bills by more than £100.
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Ofgem's draft verdict on price controls for energy network firms approves more than £15bn to be spent on gas transmission and distribution networks in the five years to 2031.
A further £8.9bn is set to be committed to the nation's high-voltage electricity network, which Ofgem said would power the biggest expansion of the grid since the 1960s, with another £1.3bn being earmarked.
The funding will allow 80 major energy infrastructure projects to be completed by 2030 and comes amid a push by the UK Government to boost the UK's renewables sector to help improve energy security.
But Ofgem revealed households are set to see the network charges on bills which make up around a fifth of average annual bills surge by £104 to £324 by 2031 to cover the cost of the extra investment.
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