Calls for Chancellor to help consumers pay energy bills in Autumn Statement

Mike Thornton, Chief Executive of Energy Saving Trust, has called on the Chancellor to help consumers pay their energy bills in the upcoming Autumn Statement.

With household energy bills expected to rise in January 2024, Mr Thornton highlighted the vulnerability of the UK’s dependence on volatile fossil fuel markets, exacerbated by geopolitical events like the Russian invasion of Ukraine.

He stated “With energy prices forecast to rise again from January, helping people with their energy bills and ensuring long term energy security should be high on the agenda of the Chancellor’s Autumn Statement.

“As well as a vital opportunity to lay out long term plans for investment in truly sustainable low carbon energy generation projects, this Autumn Statement is an opportunity for government to recognise the repeated calls to incentivise the reduction of energy use in the first place.

“This would bring down energy bills for the short and long term, increase energy security and lower carbon emissions.

“Rumours of a green stamp duty rebate for new homeowners and an extension to VAT relief on energy efficiency home improvements would be welcome. However, policies must go further to address energy demand and the inefficiency of our homes.

“A robust and widespread retrofit programme supported by an impartial, tailored national advice service in England would give people more confidence to make changes in their homes and encourage green finance products to support improvements. Reducing demand for energy would in turn support a more rapidly decarbonised grid.

The official cap announcement by Ofgem for January to March 2024 is expected later today, on 21st November 2023.