Posts tagged Ofgem
Around 7 000 gas engineers, qualified electricians and plumbing professionals could benefit from the £22 billion investment plan announced by Britain’s energy regulator.
Ofgem (the Office of Gas and Electricity Markets) has unveiled an ambitious plan to upgrade country’s gas and high voltage electricity networks, ensuring they remain among the most reliable and secure in the world.
Major projects such as new sub-sea electricity cables, linking England, Wales and Scotland, will be also funded as part of the package to renew Britain’s energy networks, currently operated by the National Grid.
The announcement was revealed within minutes after the government’s confirmation for a £9 billion boost investment programme to improve the nation’s railways. Both announcements today represent a total investment of £31 billion which will provide significant employment opportunities for trade qualified professionals.
Ofgem has estimated that £7 billion from the announced investment would help improve low pressure gas networks which deliver gas to homes and businesses across Britain.
In addition, these proposals are expected to enable gas distribution companies to connect around 80, 000 fuel poor households to the gas network.
Ofgem Chairman, Lord Mogg said: “Britain faces an unprecedented need to invest to replace ageing infrastructure, meet environmental targets and deliver secure supplies.
“This needs to be carried out at a time of global financial uncertainty, which makes attracting investment difficult but possible.”
What is your reaction on the £22 billion investment which will upgrade Britain’s energy networks and pave the way for more employment opportunities for gas/electrical engineers? Share your thoughts by commenting here or raising your voice on our Facebook and Twitter page.
Today, the Deputy Prime Minister Nick Clegg will announce that energy companies in Britain will be required to promote the cheapest available tariff to customers. Mr Clegg will say that under the current system 7 out of 10 people are paying more than they need to in energy bills due to little transparency in the formation of their bills or confusing regime of energy tariffs.
Announcing the new scheme in Canary Wharf, London, the Deputy Prime Minister will enforce energy companies in Britain to inform their customers how to save up to £100 every year from their energy bills.
The energy industry regulator Ofgem published a review last year which concluded that the energy market works against consumers’ interest because it’s too complex.
Mr Clegg has secured the backing of the 6 major energy firms, EDF, E.ON, British Gas, Southern Energy, Scottish Power and Npower that supply 99% of British homes with energy. He will state the scheme will help millions of customers to make significant savings on their annual energy bills.
Deputy Prime Minister Clegg will say: “There are currently over 120 different tariffs, making it very difficult to know where to start. That is going to change.
“As of this autumn, your supplier will have to contact you with the best tariff for your needs – and if you call them, they’ll have to offer you the best deal too.”
What’s your opinion to the new scheme which will be launched today by Deputy Prime Minister Clegg to help customers save from their energy bills? Share your thoughts by leaving a comment on Train4TradeSkills’ Facebook and Twitter pages: