Wednesday, 8 December 2010

UK Energy Bills Seen Rising To 2020 On Higher Costs-Executives

U.K. gas and power bills are likely to rise over the next decade due to
higher wholesale energy
costs, distribution charges and
other non-energy costs, senior executives from five of the U.K.'s big six
energy suppliers said Tuesday. Speaking to lawmakers in the parliament's Energy and Climate Change
Committee, senior executives from Centrica PLC (CNA.LN), Scottish and
Southern Energy PLC (SSE.LN) and U.K. units of RWE AG (RWE.XE), E.ON AG
(EOAN.XE) and Electricite de France SA (EDF.FR), said the inevitable
direction of wholesale prices meant domestic bills would get more expensive.

"If you look forward to 2020 we're all expecting to see higher wholesale
prices and higher transmission and distribution charges across the industry
as we have to make larger investments in the industry," said Centrica's Phil
Bentley, pointing out that energy regulator Ofgem said it expects average
bills to be 15% to 20% higher by 2020.

Read more:

No comments:

Post a Comment