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| Energy watchdog Ofgem chief warns of bill rises | Energy watchdog Ofgem chief warns of bill rises |
| (35 minutes later) | |
| Consumers are being warned they face higher energy bills as the UK becomes more reliant on energy imports. | Consumers are being warned they face higher energy bills as the UK becomes more reliant on energy imports. |
| In a speech, Ofgem chief executive Alistair Buchanan will say that falls in Britain's power production capacity are likely to lead to more energy imports and customers paying more. | In a speech, Ofgem chief executive Alistair Buchanan will say that falls in Britain's power production capacity are likely to lead to more energy imports and customers paying more. |
| The energy watchdog predicts power station closures could mean a 10% fall in capacity by April alone. | The energy watchdog predicts power station closures could mean a 10% fall in capacity by April alone. |
| Mr Buchanan has said the UK needs more gas supplies to fill the shortfall. | Mr Buchanan has said the UK needs more gas supplies to fill the shortfall. |
| His warning comes as older power stations close and renewables remain in their infancy. | His warning comes as older power stations close and renewables remain in their infancy. |
| Global market | Global market |
| Existing plans to take ageing and polluting power stations off the UK network over the next few years mean the amount of energy the UK can produce is set to fall. | Existing plans to take ageing and polluting power stations off the UK network over the next few years mean the amount of energy the UK can produce is set to fall. |
| While the shortfall in supply can be filled by increasing gas imports, competing for those supplies on the global market is likely to cost more. | While the shortfall in supply can be filled by increasing gas imports, competing for those supplies on the global market is likely to cost more. |
| Longer term solutions to the UK's energy needs, such as new nuclear power stations or tapping domestic shale gas reserves, have yet to be given the final go-ahead by the government. | Longer term solutions to the UK's energy needs, such as new nuclear power stations or tapping domestic shale gas reserves, have yet to be given the final go-ahead by the government. |
| Writing in the Daily Telegraph ahead of his speech in London on Tuesday afternoon, Mr Buchanan points out that the imminent closure of ageing coal and oil power station make it vital to invest more in securing gas supplies. | Writing in the Daily Telegraph ahead of his speech in London on Tuesday afternoon, Mr Buchanan points out that the imminent closure of ageing coal and oil power station make it vital to invest more in securing gas supplies. |
| He says that over the next three years, he expects to see the "reserve margin" of generation to dwindle from 14% to just 5%. | He says that over the next three years, he expects to see the "reserve margin" of generation to dwindle from 14% to just 5%. |
| He writes: "If you can imagine a ride on a rollercoaster at a fairground, then this winter we are at the top of the circuit and we head downhill - fast." | He writes: "If you can imagine a ride on a rollercoaster at a fairground, then this winter we are at the top of the circuit and we head downhill - fast." |
| Mr Buchanan then adds: "The big worry about gas for all consumers is what price will we have to pay to get it. | Mr Buchanan then adds: "The big worry about gas for all consumers is what price will we have to pay to get it. |
| "Because just when we need more gas, world demand for gas is set to rise while our own supplies are predicted to fall by another 25% by 2020." | "Because just when we need more gas, world demand for gas is set to rise while our own supplies are predicted to fall by another 25% by 2020." |
| Are you concerned at the possibility of higher energy bills? Send us your experiences using the form below. |