Proposals to invest £319 million in to the UK’s growing renewable electricity generation could spell trouble for energy customers, according to one price comparison site.
uSwitch.com said the proposals, recently published by energy regulator Ofgem, are part of a wider programme which could add an extra £548 a year onto household energy bills.
Will Marples, the website’s energy expert, said: "This announcement is one of many that consumers can expect to hear about huge investments being made to secure our longer-term energy supplies.
"The investment is crucial, but there can be no doubt that it will have an impact on our future energy bills and this has to be explained to consumers now so that they can start taking action to protect themselves in the future."
Any rise in energy prices could be a particular concern for elderly people who spend an increased amount of their income on heating.
This could lead many to turn to additional retirement funding plans such as equity release to meet the demand.
Such schemes allow homeowners to boost their monthly incomes with funds drawn against the value of their assets.
