Well most welcome if you are a shareholder of a power company or anything connected with it.
The energy regulator will permit firms running the UK's electricity and gas grids to add an average ?12 to annual energy bills for the next eight years to pay for upgrades and maintenance.
Ofgem said it had cut ?7bn from the total cost of work on UK transmission networks planned by energy firms.
The biggest of these firms by far - National Grid - said it was reviewing the "lengthy and wide ranging" plans.
Meanwhile a lobby group warned 300,000 more homes faced imminent fuel poverty.
Energy prices have risen 7% on average this year, according to the Fuel Poverty Advisory Group, and are set to leave more households paying more than 10% of their income on home heating unless the government takes action.
Tax change
Ofgem's announcement will enable ?24bn in total investment in the energy networks up until 2021.
However, an Ofgem spokesperson told the BBC that over half of the ?12 bill increase was not due to physical investment in the network, but was instead because of a change in accounting rules which would mean that energy firms could no longer claim back tax on the cost of replacing parts of the network.
The regulator's announcement represents a slight increase on the ?22bn investment allowance that Ofgem initially proposed in July - adding an average ?11 to bills - which was attacked by National Grid for being insufficient.
BBC News - Ofgem permits ?12 energy bills rise for grid upgrade
it's so we can pay their tax bill - not content with making Pre-tax profits of ?1.1 billion, with an operating profit of ?1.59 billion, up by 7% they'd like their tax bill paying as well.
I'm in the wrong game. Together with other measures that will have more than wiped out the governments claim to be helping save ?100 on the average users fuel bills per year. Give with one hand, take twice as much back with the other.
The energy regulator will permit firms running the UK's electricity and gas grids to add an average ?12 to annual energy bills for the next eight years to pay for upgrades and maintenance.
Ofgem said it had cut ?7bn from the total cost of work on UK transmission networks planned by energy firms.
The biggest of these firms by far - National Grid - said it was reviewing the "lengthy and wide ranging" plans.
Meanwhile a lobby group warned 300,000 more homes faced imminent fuel poverty.
Energy prices have risen 7% on average this year, according to the Fuel Poverty Advisory Group, and are set to leave more households paying more than 10% of their income on home heating unless the government takes action.
Tax change
Ofgem's announcement will enable ?24bn in total investment in the energy networks up until 2021.
However, an Ofgem spokesperson told the BBC that over half of the ?12 bill increase was not due to physical investment in the network, but was instead because of a change in accounting rules which would mean that energy firms could no longer claim back tax on the cost of replacing parts of the network.
The regulator's announcement represents a slight increase on the ?22bn investment allowance that Ofgem initially proposed in July - adding an average ?11 to bills - which was attacked by National Grid for being insufficient.
BBC News - Ofgem permits ?12 energy bills rise for grid upgrade
it's so we can pay their tax bill - not content with making Pre-tax profits of ?1.1 billion, with an operating profit of ?1.59 billion, up by 7% they'd like their tax bill paying as well.I'm in the wrong game. Together with other measures that will have more than wiped out the governments claim to be helping save ?100 on the average users fuel bills per year. Give with one hand, take twice as much back with the other.
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