Weekly news round up 29th November 2022

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1 . Latest energy price cap announced by Ofgem

The energy regulator Ofgem has announced its quarterly update that the energy price cap for 1st Jan - 31st March 2023 will be £4,279. However householders are still protected under the governments energy price guarantee until April 2023 meaning this increase will not have any impact. The next quarterly price cap review will be on 27th February 2023.

2. Government announces new fund called 'eco plus' to boost energy efficiency

Grant Shapps annouced the new eco plus fund of £1billion to cover installation of loft insulation, cavity wall insulation and smart heating controls. The scheme will be available to middle income households unlike previous schemes which have only been available to those on lower incomes. More details will be announced next week. A survey of over 2000 people by the Times shows that more than 79% are in favour of the government spending money on this initiative.

“ A survey of over 2000 people by the Times shows that more than 79% are in favour of the government spending money on the 'eco plus' scheme.

3. Government launch public information campaign to help householders cut energy use.

A public information campaign will be launched before Christmas with the aim to help but energy useage by 15%. This would also save households up to £400 a year. This 15% cut in consumption would reduce the nations energy bill by £28 Billion.

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