U.K. consumers to face higher energy bills

The U.K. consumers will soon face higher energy bills, as he U.K. becomes more reliant on energy imports. According to the Ofgem chief executive Alistair Buchanan, the fall in nation's power production capacity is likely to lead to more energy imports, so customers will pay more. While the shortfall in supply can be replaced by increasing gas imports, competing for those supplies on the global market is likely to cost more, adding more challenges to the U.K. government. At the same time, longer term solutions, such as new nuclear power stations or tapping domestic shale gas reserves, have yet to be given the final go-ahead by the government.

"There isn't a single person or people to blame. In my view it was a single event - the financial crisis. Before the financial crisis the government had backed a visionary approach to energy on wind, water and nuclear... then came the financial tsunami."