Power companies will be allowed to make bigger returns as Ofgem relaxes proposals
The industry regulator will allow energy networks to plough at least £40bn into the green revolution and make higher returns on their investments, after companies threatened an unprecedented rebellion against its plans to save homes £20 a year on their bills.
Ofgem’s plans, set out on Tuesday, will halve the savings energy bill payers can expect over the next five years to £10 a year after softening the crackdown on company profits it proposed over the summer.