Energy bills to rise £104 for power grids upgrade

ENERGY Secretary Ed Miliband’s “rush” to net zero will raise bills £104 by 2031, the Conservatives have warned.

- By Steph Spyro Deputy Political Editor

Regulator Ofgem provisionally signed off on a £24billion investment in Britain’s power network.

It includes £15billion into gas transmission and distribution networks and £9billion into electricity networks.

The latter investment is the first stage of a planned £80billion upgrade over the next five years to ensure the grid is ready for net zero.

The spending will be funded through levies on household energy bills and Ofgem said these initiatives would add £104 to network charges by 2031.