Pulling the rug on the energy price guarantee is a golden opportunity — UK100

UK100 is the UK’s only network of local authorities committed to ambitious action on Net Zero and clean air.

Responding to the walk back of Energy Price Cap promises by the new Chancellor Jeremy Hunt, Polly Billington, UK100 CEO, says:

“Brits are facing a bleak winter. Today’s energy price cap walk back will undoubtedly feel like a kicking when millions are already on their knees. But the Government now has a golden opportunity to lean into a change of course that invests in a real long-term plan to bring bills down permanently.”

“The pledge to cap ever-ballooning energy prices offered millions facing fuel poverty some reprieve. Without it, consumers could see average bills exceed £5,000 in 2023. And with no clarity on what follows when the support stops in April, people will be understandably panicked.”

“The Government can help quell the panic by investing in long-term solutions to the energy crisis that will reduce bills while accelerating Net Zero progress. The money saved by shrinking the energy price guarantee could turbo-boost a national energy efficiency drive.”

“One of the reasons the energy crisis is hitting Brits so hard is that we’re paying the price of successive governments kicking the can down the road on making our homes fit for the future.”

“The tens of billions saved from the energy price guarantee could be prudently invested in a drive to upgrade Britain’s draughty homes. And we know local authorities are best-placed to lead that drive[1].”

“The cheapest energy is the energy we don’t use. To avoid another winter like this one, we need a locally-led energy efficiency revolution to slash household bills long term. The more urgently it’s implemented, the better it can protect Brits from the misery of £5,000-a-year energy bills. It’s time to end the wait and insulate.”

UK100 will host a “Tackling the Energy Price Crisis” summit on 17 November, featuring the West Yorkshire and Greater Manchester Mayors Tracy Brabin and Andy Burnham, that will focus on the role of local and regional leaders in delivering energy efficiency upgrades.

The event will also launch a new report detailing the cost of upgrading all of Britain’s social homes and the benefits to households in energy bill savings alongside the jobs dividend.