You could be paying double on your energy bills in the next 10 years
Start stock piling jumpers and blankets because it looks like we're facing a massive hike in the price of the energy we use. Reports suggest that bills could well double in the next decade.
We all have to chip in and pay for the £32bn upgrading of Britain's dilapidated energy network.
Ofgem (them again) have claimed that the upgrade of pipes and wires, which are a necessary if we're to move toward a low-carbon economy, would add an average of £6 a year to gas and electricity bills.
However, there's other people out there with wilder looks in their eyes, shouting on street corners about worse to come. Price comparison websites (a trustworthy bunch) and consumer groups warned that this official estimate was off the mark and that householders are facing increases of between 50% and 100% – taking the average annual bill to over £2,000.
In the short-term, Ofgem reckon energy companies wholesale prices will increase by 13% by next spring, which, if if passed on to us in full, will see gas bills going up by about £81 to £706 annually.