- Friday, 9 October 2009The number of people seeking advice on
individual voluntary agreements (IVAs) could increase in the near future unless significant investment is made to secure Britain's power supply future.
According to the energy regulator Ofgem, unless an investment of £200 billion is committed to the UK's power plants and future supply needs, consumer prices could significantly rise as a result of import costs.
Ofgem chief executive Alistair Buchanan said: "Britain faces a tough challenge in maintaining secure supplies whilst at the same time meeting its climate change targets.
"However, there is still time to act. Ofgem will be putting forward proposals in the New Year based on today's consultation to ensure that Britain's energy industry can meet the challenges ahead."
While a 60 per cent increase on prices is the worst case scenario, Ofgem has proposed there are a number of possible price rises, with the slightest standing at between 14 per cent and 25 per cent.
Recent IVA News23% of first-time buyers save for five years to raise a depositWed, 04 May 2011
Brits dealing with Finance Management should shop around for car insurance Wed, 04 May 2011
Parents, including those with Finance Management, advised to start saving for children's weddingsTue, 03 May 2011
Newlyweds may be in need of Finance Management plans after overspending on weddingTue, 03 May 2011
Renting rather than buying may be an option for Brits with Finance Management Thu, 28 Apr 2011
Consumers coping with Finance Management may want to shop around for cheap energy tariffsWed, 27 Apr 2011
Increasing number of Brits turning to loans for home improvementsWed, 27 Apr 2011
Brits, including those with Finance Management plans, to spend £267 on Royal Wedding Tue, 26 Apr 2011
Equity release can be used to 'become debt-free'Tue, 26 Apr 2011
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