Bills could climb 60% THE energy; WORLDTODAY.

THE energy watchdog today said UK consumers faced potentially steep price rises in their gas and electricity bills as supplies become more volatile. In a review of Britain's energy market, Ofgem said an investment of up to pounds 200bn is needed to secure supplies and meet environmental targets.

It lists four possible scenarios for the future and in one - that of a strong resurgence in global economies along with missed renewable and carbon targets - Ofgem warned prices could surge by more than 60% by 2016 before falling back.