4 June 2008
The Chief Executive of E.ON has warned that the era of cheap energy for consumers may be over for good.
Dr Paul Golby asserted that as wholesale charges increase for the energy providers themselves, hikes in the customer market are likely, reports the Times.
And Dr Golby claimed that there will be "upward pressure on bills" as a result on the trends, as wholesale charges are increasing quicker than retail ones.
The country must now face up to a challenging period in terms of generating more power for the future, he added.
He also suggested that renewable energy targets set by the government will be hard to meet and that the cost of constructing new power stations will be between £50 and £100 billion.
"We are calling for a new balanced and honest debate about the UK's energy needs, one that truly assesses the consequences in terms of carbon, cost and security of our energy choices," he commented.
This week a report from uSwitch.com revealed that energy companies are the worst in terms of accuracy when billing.