Bills from energy suppliers could increase by 60% within a decade - 09/10/2009
Cheap energy rates could rapidly become unattainable as Ofgem has warned prices could increase by 60 per cent by 2017.
The energy industry regulator said the main factors in danger of driving up costs are the fact that several power stations are due to be decommissioned within the next few years and the unpredictability of international gas markets.
Investment of £200 billion is needed to secure Britain's energy future and the level of price rises above inflation could fall to 14 per cent after 2020.
Ofgem chief executive Alistair Buchanan said: "Consumers are already enduring high energy prices. This is why we are consulting with consumer and environmental groups, the academic community and industry to ensure any policy proposals we make are grounded on the best evidence available."
EDF is scheduled to lead redevelopment of Britain's nuclear infrastructure, but the first new reactors are not due to become operational until 2017, before which many older power plants will be decommissioned.
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