Energy grid upgrade to add £108 to household bills

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Energy regulator Ofgem has approved plans for a massive £28 billion upgrade to the UK's energy grids over the next five years. This investment is projected to add £108 to customer bills by 2031, although Ofgem states that anticipated efficiencies will offset the majority of this cost. The upgrade is deemed essential to bolster energy resilience and facilitate the transition to a renewable energy future.

Scale of Investment and Cost: Ofgem has confirmed a massive £28 billion investment in the UK's gas and power infrastructure over the next five years. This major upgrade is projected to add £108 to the average household energy bill by 2031.

Net Impact on Bills: Although the gross increase is £108, Ofgem estimates that efficiencies delivered by the projects will result in