Energy bills could be £2000 by 2020
Do not make the mistake of thinking energy prices will fall substantially in the years ahead.
Ofgem, the regulator, reckons the average household will be spending around £2,000 a year on gas and electricity by 2020, 20% more than now. And that is assuming we do not see another spike in the cost of wholesale gas prices.
For all the current debate about how best to structure our energy market for a low carbon future, there is little doubt about who will pick up the lion's share of the £200bn bill for bridging Britain's energy gap while meeting our ambitious emissions targets. It won't be the energy industry, that's for sure. Everyone will have to share the cost burden of the overhaul.