Energy supplier prices for microgeneration 'fair'
The UK's energy regulator has said prices that energy suppliers are offering to households who want to sell energy produced from microgeneration are fair.
In a new report, Ofgem has stated that the prices offered are "a fair reflection" of wholesale costs of gas and electricity, as well as the other benefits available from locally produced power.
However, the regulator also warned that it may take homeowners using wind turbines and solar panels around 20 years to be fully paid back on the cost of installing the renewable systems.
Alistair Buchanan, the Ofgem chief executive, added that consumers also need more advice about taking up microgeneration.
He said: "Customers need better, clearer information to help find the best deal, as they will have to weigh up several factors such as the returns they could make on exporting power and the costs of a meter to register exports."
Ofgem also recently announced plans to investigate the regulatory regime of the UK's energy markets.
The regulator said it wanted to ensure that current systems provide customers with reliable service and fair prices.
© 2008 Adfero Ltd
Add to del.icio.us 
Add to Y!MyWeb 
Submit to Digg 
Stumble It
Compare all home energy suppliers
Subscribe to RSS news feedSwitchWise.com 2008. SwitchWise.com is a trading name of UK Power Limited and is a trademark owned by Switchwise Limited.
This site is intended for UK Residents only.
Compare gas suppliers | Compare electricity suppliers | Secured loans | Unsecured loans | Compare broadband | Compare Home Phone | Homeowner loans | Compare mortgages | Personal loans