The government’s consumer protection agency is cutting the amount energy firms can charge for transporting gas and electricity, saying the total bill will fall by €500m.

The plan will cut the average household energy bill by several tens of euros a year, the Authoriteit Consument en Markt said. The cuts in tariffs will be implemented between 2014 and 2016.

Network companies can achieve the savings by doing their work more efficiently and being more careful with their investments, ACM spokesman Henk Don told BNR radio.

However, the energy sector itself doubts whether such savings can be realised, the broadcaster reported. ‘The investments necessary to ensure the energy network is ready for the future are enormous,’ said Martijn Boelhouwer of the network organisation BNN. ‘This is a capital-intensive sector and investments are done for tens of years.’