OFGEM to install 1,800 "ultra-rapid” EV charging points across UK

OFGEM to install 1,800 "ultra-rapid” EV charging points across UK

The Office of Gas & Electricity Markets (OFGEM), the UK government agency that regulates electricity and natural gas markets in the country, has announced plans to install more “ultra-rapid” EV

Ofgem warns energy companies against high prices

The energy regulator Ofgem warned the energy suppliers that they can not use their investment plans as an excuse to overcharge consumers.

Earlier this year, wholesale energy prices dropped by around 50 per cent, but Britain's six leading energy companies viz. British Gas, EDF, ScottishPower, E. ON, Scottish & Southern Energy and npower slashed their prices very slightly.

According to Ofgem's quarterly price report, energy suppliers' margins have soared to a five-year high.

UK households could face a 60% rise in energy bills by 2016

UK Households might have to face a 60 per cent rise in energy bills in the next seven years.

As per a report by the energy regulator, Ofgem, the energy bills could soar to £2,000 per year on average by 2016.

The energy regulator further added that an investment of £200 billion is needed to secure supplies and achieve environmental targets.

The Ofgem examines four possible scenarios for the future and overall, the regulator estimated costs to increase between 14 per cent 25 per cent above inflation between now and 2020.