Simon Francis, coordinator at End Fuel Poverty Coalition, said: “With the North Sea running out of gas and after years of under investment, upgrades to Britain’s energy grids are vital to ensure a reliable energy supply and to help homes benefit from renewables as they come online.
“But that should not mean signing a blank cheque for network and transmission companies.
“These vast sums of essentially public money must come with proper scrutiny and guarantees for consumers.
“These firms have already made billions in profits during the energy crisis, with significant returns flowing to offshore investors and so-called ‘vampire funds’.
“Households can’t keep footing the bill while private equity profits.
“Every penny added to customers’ bills must be spent delivering clear value for money and actively helping to reduce the cost of energy in the long-term and ensure energy security.”
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