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E3G Response to May Speech announcing Energy Price Cap legislation

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Today, October 4th, British Prime Minister Theresa May made an address at the Conservative Pary Conference.

In the speech, she announced energy price cap legislation.

Ed Matthew, Associate Director at the global climate change think tank E3G said:

“Energy price caps are a sticking plaster solution because they don’t deal with the biggest underlying cause of high energy bills – the fact we have one of the least energy efficient housing stocks in western Europe. To permanently reduce energy bills the Government must make energy efficiency an infrastructure investment priority and put this at the heart of their forthcoming Clean Growth Strategy.”

Notes:

  1. The UK has the oldest housing stock in western Europe.
  2. There are 19 million homes with poor levels of energy efficiency in the UK, with an EPC rating of D, E, F and G.
  3. Energy efficiency measures have reduced the average UK household energy bill by £49o between 2004 and 2015
  4. But the Cameron led Government slashed energy efficiency public funding by 40%, leading to the number of energy efficiency measures being installed in UK homes dropping by 80% between 2012 and 2017.
  5. The potential exists to reduce household energy bills by 25% by installing remaining cost-effective measures, a saving of on average £270 / household.

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