Ofgem Reveals Electricity Providers Price Control Measures

New proposals from energy regulator Ofgem could see millions of electricity customers having their bills cut by £12 a year.

In a statement released today on their website, the regulator has set out proposed price control measures for five of the UK so-called big six energy suppliers.

Ofgem said: "Our proposals would see the network companies spend £17 billion to upgrade and maintain Britain’s local electricity network. At the same time, this part of the energy bill – which accounts for 8% of an annual dual fuel bill – will be on average £12 a year lower than it is today for the eight-year period of the control. These proposals are planned to come into effect in April 2015 and run until 2023."

The full statement and details of the proposal can be found on the Ofgem website.


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