Although there is undoubtedly much work still to do, good progress has been made in reducing energy bills and ensuring that homes are well-insulated with the number of homes that are well-insulated having increased from 14 per cent in 2010 to 50 per cent now.
There are a number of schemes available to help with insulation measures. Under Energy Company Obligation, Great British Insulation Scheme, Social Housing Decarbonisation Fund, Green Homes Local Authority Delivery and Home Upgrade Grant, around 97,100 insulation measures were introduced in domestic properties between 1 December 2022 and 30 November 2023.
In addition, I understand that the Government has estimated that over 300,000 homes will be supported through the Great British Insultation Scheme from April 2022 to March 2026, with £1 billion of funding available across that period. You can read more here:
Mims Davies MP encourages applications to the Great British Insulation Scheme | Mims Davies
The new price cap announced by Ofgem will mean that from April 2024 the average bill has dropped by £238. I am aware that the Department for Energy Security and Net Zero has also introduced new measures to help families save on energy costs and access cheaper deals. This includes examining how standard energy deals should work to pass on the cheapest electricity costs, as well as a new scheme to help customers repair or replace smart meter in-home displays after the one-year warranty. I understand that these displays provide an important service in helping families, including older and vulnerable people, keep track of their energy use. Extending support will help customers continue to make the most of the savings smart meters can offer as the price cap falls and competitive deals return to the market.
Finally, smart energy tariffs could see £900 taken off energy bills. I know that the Government is carrying out a call for evidence on standard energy tariffs. The call for evidence, which closes on 22 April 2024, is seeking views on making these tariffs more flexible, so families pay less if using electricity at a time of day when prices are lower while protecting those who are not suited to a flexible tariff.
