- 3 updates
It is not just the gas and electricity companies that are increasing their earnings from higher charges. Now the energy distribution firm National Grid is under fire for doing the same - it points to higher costs in processing green energy.
Despite that row, the Prime Minister said today he was still committed to green issues.
Political editor Tom Bradby reports:
National Grid says it is the cost of modernising the networks to accommodate green energy sources that pushes the prices higher.
But with the company’s UK profit up 7.7% in the first half of the financial year, many question how honest it is about the costs. Consumer Editor Chris Choi reports.
National Grid costs can make up to 20% of a household gas charges and the amount households pay towards the network went up £11 per bill this year and is expected to rise further.
The National Grid has seen its operating profits from running UK gas and electricity networks rise after increasing the amount it charges energy customers.
Profit was up 7.7% in the first half of the financial year in its UK arm although a poor performance in the US market dragged the company's overall profits down.
National Grid’s UK revenues come from levies on customer energy bills, set at levels determined by regulator Ofgem to finance spending on infrastructure.