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Ofgem Approves £28 Billion Upgrade, Household Bills Rise £108

12/6/2025

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Summary

Story summary

The Office of Gas and Electricity Markets (Ofgem) approved a £28 billion investment to upgrade networks, raising household bills by £108.
Critics say highly profitable energy companies should reinvest profits in infrastructure rather than pass costs to consumers.
Many call for government action to buy back utilities and ensure profits are reinvested.
While investment is needed for energy security, consumers should not bear costs from past underinvestment and dividends.

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Story summary

The Office of Gas and Electricity Markets (Ofgem) approved a £28 billion investment to upgrade networks, raising household bills by £108.
Critics say highly profitable energy companies should reinvest profits in infrastructure rather than pass costs to consumers.
Many call for government action to buy back utilities and ensure profits are reinvested.
While investment is needed for energy security, consumers should not bear costs from past underinvestment and dividends.