Annual electricity bills set to increase with proposed Energy Bill

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As part of the Government's proposed energy reforms, households in the UK are set to have to pay around £100 a year more for their electricity, according to an article published by My Finances.

The rise in cost will subsidise the construction of new nuclear power stations and wind farms over the next two decades. According to the BBC, EDF - one of the big six energy companies - are currently the only significant bidders for nuclear power.

Energy Secretary Ed Davey revealed, when introducing the Bill, that if the government didn't act, annual bills would rise by £200.

In light of criticism regarding the presence of the "carbon floor price" tax - which critics have argued will make energy more expensive - Mr Davey stated: "These reforms will ensure we can keep the lights on, bills down and the air clean."

Consumer Focus warned that a "fine line must be walked" regarding the balance of the Bill.

Director of energy at the organisation, Audrey Gallacher, stated: "With a hefty price tag attached to the changes to be made, consumers need to be assured that not a penny of the funding that comes out of their bills will be wasted."

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