Ofgem tells energy network firms they must invest without increasing bills

New electricity price controls from 2023 to 2028 will keep costs to customers at about 100 a year

The operators of Great Britain's local energy networks will be forced to spend more of their profits on investing to future-proof the country's electricity grid, after the regulator, Ofgem, said it would not allow any rises in household bills.

In a new set of price controls that will run from 2023 to 2028, the energy watchdog said it would keep costs to customers unchanged at about 100 a year.