Bills ’set for large rise’
Household bills could be set to rise dramatically in the next few months, officials at energy firms have warned.
Executives at these organisations said that growing charges for global fuel are going to push up their prices in the long run.
One of them, chief executive at Centrica Sam Laidlaw, noted that these providers have to keep their margins at a realistic level and therefore no other alternative is possible, something that could impact on those with loans.
"We need to make a return because we need to invest in new sources of gas for the UK and to invest in replacing power generation," he commented to a House of Commons select committee.
He added that 25 per cent of the existing energy network will have to be replaced with more sustainable means over the next decade.
Representatives from six of the biggest energy firms in Europe including British Gas, EDF and E.ON were present at the meeting.
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