Monday 18 November 2013

We will be paying over the odds for the next 17 years for heating and water

On the face of it we can look forward to 17 more years of above-inflation increases in energy and water bills as they help pay for the renewal of the UK's infrastructure, Whitehall's spending watchdog has warned.

The National Audit Office added that "gaps" in the official analysis meant government lacked "an overall picture of affordability".

Five of the UK's six main energy companies have announced price rises, at an average of 8.1%.
On Tuesday, EDF Energy became the latest provider to increase bills, by an average of 3.9%.

We think Ed Miliband plans for a 20-month energy price freeze is just hot air and we have little faith in the government competition review.

It looks like we will be paying for the failures of three or four previous governments.

Approximately two-thirds of the £310bn of planned infrastructure investment over the next decade and beyond will come from private companies, ultimately paid for by consumers such as the new EDF Nuclear Power stations priced in the billions.

An estimated 8% average real-terms increase in household energy bills between now and 2030. For water, the figure would be 28%.

Decades of underinvestment have left us struggling with insufficient energy infrastructure.

Every government know about it but each left it to the successive govt to take on the mantle.

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