Ofgem releases a wide-ranging and comprehensive review of the UK energy market, warning that a £200bn investment is needed for new power generation and infrastructure.
Both energy supply and energy security are areas of concern raised by the report, with north gas supplies declining, increasing the need for more gas storage.
With many European countries becoming increasingly dependent on gas imports, recent events such as the Russia-Ukraine crisis raised concerns about the security and price of future gas supplies, the regulator said.
This investment will lead to a 14 to 25 % increase in energy bills in the next 10-15 years.
See the report here.
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