Energy secretary hails £100bn milestone in this parliament and says it is ‘only the start of what we want to achieve’

Ed Miliband has hailed a boost to UK jobs and growth as government data reveals that private sector companies have pledged more than £100bn in investment into the green economy so far in this parliament.

Offshore wind, solar power and the electricity grid make up the bulk of the planned investment, most of it between 2024 and 2031, which will go to all regions of the UK and comes from a mixture of UK companies and overseas sources including the EU and Japan.

Regulator could do us all a favour with clear multi-year forecasts and breakdowns of electricity pricing

It is easy to predict where the energy regulator will set the next quarterly price cap on Wednesday. It’s just a matter of tracking wholesale prices in Ofgem’s relevant backward-looking “observation period”. Energy consultant Cornwall Insight thinks the typical household bill be £1,850, an increase of £209 from the previous quarter. It will be surprising if it is out by more than a few quid.

One can also make a fair guess at the regulator’s messaging. It will talk about the unavoidable impact from the surge in energy prices that followed the closure of the strait of Hormuz. It may also say the increase would be even greater than 13% without the additional wind and solar generation on the system these days. Fair enough. Gas sets the wholesale price of electricity only 60% of the time now, down from 90% not long ago.