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| Bills to fund electricity upgrade | |
| (10 minutes later) | |
| The UK electricity regulator, Ofgem, says average electricity bills can increase by £4.30 a year for five years to pay for network upgrades. | The UK electricity regulator, Ofgem, says average electricity bills can increase by £4.30 a year for five years to pay for network upgrades. |
| The 14 networks that make up the UK supply were built in the 1950s and 1960s and are in need of investment. | The 14 networks that make up the UK supply were built in the 1950s and 1960s and are in need of investment. |
| Ofgem chief executive Alistair Buchanan said the proposals were " tough on inefficiency and poor service but fair in allowing the companies to invest". | Ofgem chief executive Alistair Buchanan said the proposals were " tough on inefficiency and poor service but fair in allowing the companies to invest". |
| And he said the new controls would lead to a greener electricity supply. | And he said the new controls would lead to a greener electricity supply. |
| Mr Buchanan told the BBC that the customer was paying for the upgrade but that regulators had stopped companies from charging too much. | Mr Buchanan told the BBC that the customer was paying for the upgrade but that regulators had stopped companies from charging too much. |
| He said Ofgem had cut the sum wanted by companies by 8% to ensure value for money for the consumer. | He said Ofgem had cut the sum wanted by companies by 8% to ensure value for money for the consumer. |
| Ofgem said investment on the UK's electricity infrastructure would be up 40% - to £7.2bn - compared to the last five years' spending. | Ofgem said investment on the UK's electricity infrastructure would be up 40% - to £7.2bn - compared to the last five years' spending. |
| The new investment figure includes £500m for a low carbon energy fund. | The new investment figure includes £500m for a low carbon energy fund. |
| UK electricity networks are regional monopolies. | |
| Regulators set price limits every five years to ensure a good service for customers to make up for the lack of competition. |