UK Money News
26th June 2008
Energy bills set to rise for five years after 2015
Gas and electricity bills are set to increase further as of 2015 to fund the country's move to more sustainable energy, it has been announced.
The business secretary John Hutton detailed the plan to move to away from fossil fuels in an interview with the Times.
However, he warned that the £100 billion programme is set to come at a cost to the consumer and that energy bills will rise accordingly.
These higher charges are set to be imposed as of 2015 and will last for five years, he added.
Mr Hutton's plan will see homeowners offered financial inducements to undertake green improvements to their homes, such as fitting solar panels or economical underfloor heating.
Also planned is an increase in the use of air and ground source heat pumps.
News of the proposed price hikes comes as consumers are already facing energy bills which are on average 15 per cent higher than last year.
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