Energy regulator Ofgem has welcomed the Government's energy bill plans, but warned the industry faces an "unprecedented challenge" ahead.
In a statement, the regulator's Senior Partner for Markets, Andrew Wright said:
Ofgem welcomes today’s announcement by DECC on the future of energy policy. We will continue to work constructively with Government to get the best outcome for consumers both now and in the future.
Ofgem has played a key role in advising consumers and Government of the challenges Britain faces in attracting significant investment. In 2009 Project Discovery warned consumers that Britain’s energy industry faced an unprecedented challenge and concluded that changes to the current energy arrangements would be needed to deliver secure and sustainable energy supplies.
It is the Government's long awaited light bulb moment. The Energy Bill published today envisages changes that would reach into our lives.
By 2020 we will be paying nearly £100 a year more for energy. But whether bills will come down again afterwards is still in dispute.
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