I am delighted that most British household energy bills will fall from April after regulator Ofgem cuts its domestic price cap to its lowest in more than two years. This will see energy prices reach their lowest level since Russia's invasion of Ukraine in February 2022.
The UK is over-delivering on its commitment to reduce emissions, having already slashed emissions by 50 per cent. We have also cut emissions faster than any other G7 country over the last decade. This has allowed the Government to take a more realistic approach while reaching its green targets, to ease the burden on hardworking families.
Not only has the UK cut emissions faster than any other major economy since 1990, but it also has some of the most ambitious legally binding targets. The Government has also set more stretching targets for 2030 than most countries. It has plans to cut emissions by 68 per cent by 2030, which is more than the EU, Japan or the United States.
I am aware that community energy projects also play their part and can have real benefits for the communities in which they are based. I appreciate that several constituents have written to me highlighting the new research by the climate charity Possible and Regen on this topic.
The £10 million Community Energy Fund expands on the success of the previous rural community energy fund to enable rural and urban communities across England to access grant funding to develop local renewable energy projects for investment. This funding will help to kickstart projects including small-scale wind farms and rooftop solar partnerships, as well as battery storage, rural heat networks, electric vehicle charging points, and fuel poverty alleviation schemes, which are all proposed, designed and owned by local people.
As promised by the Prime Minister as part of the Government's pragmatic approach to net zero, the Boiler Upgrade Scheme (BUS) will offer £7,500 towards the costs of a new heat pump - a 50 per cent increase in the support available for air source models and making it one of the most generous schemes in Europe.
I share the Prime Minister’s belief that no one should have to choose between cutting costs and cutting emissions and this pragmatic approach means the UK can continue to deliver on ambitious net zero targets without unfairly hitting the pockets of hardworking families.
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