Utility bill hikes set to outstrip inflation up to 2030
Increases in energy and water bills will continue to outstrip inflation up to 2030 due to the high level of infrastructure investment required, according to the National Audit Office (NAO), writes Utility Week.
In a report, the NAO urged the treasury to ensure there are mechanisms to assess the impact of infrastructure investment on consumer bills, particularly those paid by low-income households.
The Treasury expects that over two-thirds of the £310 billion worth of the planned infrastructure it has identified will be privately financed, owned and operated but paid for by consumers through their utility bills.
In the meantime, the NAO estimates average household energy bills will increase by £221 between 2013 and 2030 in real terms.