Ofgem approves £28 billion investment in UK energy network

Ofgem has approved a £28 billion investment in the UK's energy network, aiming to reduce reliance on imported gas and lower wholesale energy costs. This significant investment will primarily fund gas network maintenance and bolster the electricity transmission network with £10.3 billion. Households will see an increase in energy bills to support this plan. The investment is intended to enhance the safety and resilience of Britain's energy infrastructure, supporting the transition to new energy forms and insulating consumers from volatile gas prices.