Latest news with #WarmHomesDiscount
Daily Mirror
08-05-2025
- Business
- Daily Mirror
Labour Party explains how it will cut £300 a year from UK energy bills
The Labour Party repeatedly made the pledge during its General Election campaign last year Labour has shed more light on its ambitious plan to slash energy bills by £300 annually by 2030. The party repeatedly touted this promise during its General Election campaign last year, and Prime Minister Keir Starmer has reaffirmed the commitment since taking office. SNP MP Seamus Logan queried the Government in Parliament about from what level the Government plans to bring down energy bills £300 when the change is achieved. Energy minister Miatta Fahnbulleh responded, saying: "The Government believes that our mission to deliver clean power by 2030 is the best way to break our dependence on global fossil fuel markets and protect billpayers permanently. "The creation of Great British Energy will help us to harness clean energy and have less reliance on volatile international energy markets and help in our commitment to make Britain a clean energy superpower by 2030. This, combined with our Warm Homes Plan to upgrade millions of homes to make them warmer and cheaper to run is how we will drive down energy bills and make cold homes a thing of the past." The Warm Homes Plan includes additional funding for the Boiler Upgrade Scheme, which offers grants to support the transition from fossil fuel heating systems to heat pumps or biomass boilers. Through this scheme, households can receive £7,500 towards an air source heat pump, £7,500 towards a ground source heat pump, or £5,000 towards a biomass boiler. Government figures indicate that switching to a heat pump could save families about £100 annually on energy bills in contrast to using a gas boiler, while insulating a home could result in even greater savings of roughly £200 a year. Ms Fahnbulleh further explained the Government's strategy, saying: "We recognise that we need to support households struggling with bills whilst we transition to clean power by 2030. This is why we are delivering the Warm Home Discount to around 3 million eligible low-income households this winter. "On February 25, we published a consultation on the expansion of the Warm Home Discount, giving more eligible households £150 off their energy bills. These proposals would bring around 2.7 million households into the scheme – pushing the total number of households that would receive the discount next winter up to around 6 million. "The consultation has now closed and the Department is evaluating the responses." The Warm Homes Discount offers a one-off £150 deduction from your electricity bill. Those who qualify include people on the Guarantee Credit portion of Pension Credit as well as those on a low income or who are receiving certain means-tested benefits. Ministers are considering broadening the scope of the discount to include everyone on means-tested benefits. Most of the time, eligible suppliers will automatically deduct the discount from your bill — the funds aren't transferred directly to you. These suppliers are part of the scheme: 100Green (formerly Green Energy UK or GEUK) Affect Energy – see Octopus Energy Boost British Gas Bulb Energy – see Octopus Energy Co-op Energy - see Octopus Energy E - also known as E (Gas and Electricity) Ecotricity Next EDF Fuse Energy Good Energy Home Energy London Power Octopus Energy Outfox the Market OVO Rebel Energy Sainsbury's Energy Scottish Gas – see British Gas ScottishPower Shell Energy Retail So Energy Tomato Energy TruEnergy Utilita Utility Warehouse.
Yahoo
25-02-2025
- Business
- Yahoo
Starmer Accused Of 'Snake Oil Salesmanship' As Energy Price Cap Rises Despite Labour Vow
The government has been torn apart after it was announced that the energy price cap is set to increase yet again in April. The cap – which is the maximum amount suppliers can charge consumers per unit of energy per year – is going up by £111 to £1,849 from April. That's a 6.4% increase, and the third consecutive rise. While energy regulator Ofgem is responsible for altering the cap, this news does fly in the face of Labour's election promise to reduce energy bills by up to £300 by 2030. Energy security and net zero secretary Ed Miliband said today's increase was triggered by 'petrostates and dictators' driving up the wholesale price of gas. But he claimed 'the government has your back,' saying Labour would be expanding the Warm Homes Discount for vulnerable families, insulating more homes for energy efficiencies, and making sure the regulators are tough on energy suppliers – while also moving the UK towards renewable energy. Ofgem's Tim Jarvis told BBC Breakfast that the increase was due to a 'a challenging global market which we are still very much exposed to' due to the nation's reliance on gas and electricity. He added Europe experienced a colder than average winter, and that the final pipeline between Russia and Ukraine has been closed – two moves which both drive up energy demand and tighten supply. But critics still attacked Labour for failing to keep its vow to reduce energy bills. The Conservatives' acting shadow energy secretary Andrew Bowie called it a 'betrayal'. He said: 'The latest hike in the energy price cap is a betrayal to the families who Ed Miliband promised to save £300 on their bills. 'Labour's election promise is shot and bills are on the rise. 'What's more, the government are not being honest about the trade-offs required to fund their fantastical energy policies - it will be families who are hit with the bill.' Liberal Democrat leader Ed Davey said the government should scrap the latest energy bill rise for the almost 10 million pensioners who had their winter fuel payments cut. 'The government must scrap this energy bill rise for pensioners who have had their winter fuel payments cut. 'Ministers should reverse their cut to winter fuel payments altogether, but the least they could do is to ensure bills for those impacted do not rise further. 'Thousands of vulnerable people have shamefully been left to choose between heating or eating this winter. The government has got to get a grip on energy bills and fast.' Over on social media, people were quick to point out how Labour has repeatedly promised to cut energy bills, with some even accusing PM Keir Starmer of being 'the most duplicitous Labour leader ever'. 'Under a Labour government we would freeze energy bills. We wouldn't allow them to go up.'~ Keir Starmer Snake oil salesmanship. UK domestic energy prices are to rise by 6.4% in April to £1,849 a year on average. — James Melville 🚜 (@JamesMelville) February 25, 2025 That Labour promise to 'reduce your energy bills by £300 per year' is going really well then. You can not trust a word they say. — Pete Wishart (@PeteWishart) February 25, 2025 🚨BREAKING: Ofgem have announced a 6.4% rise in the energy price cap in April meaning an average increase by £111 for households. — The Yorkshire Lass (@real_shirelass) February 25, 2025 In opposition Sir Keir Starmer promised to "freeze energy bills"As Prime Minister he is allowing Big Energy Companies to increase bills by more than twice the rate of inflationThe most duplicitous Labour Party Leader ever — Cllr Martin Abrams 🕊️🍉 (@Martin_Abrams) February 25, 2025 Others called for the government to implement 'immediate action' and a review on how the price cap is even generated. Immediate action on household costs can help sustain public support for the rapid expansion of clean energy. The government should consider rebalancing costs between bills and taxation and review how Ofgem calculates the energy price cap. — IPPR (@IPPR) February 25, 2025 Let's just be honestThe price cap isn't a price cap, and the regulator isn't a regulatorI've no problem with the long term aims of GB energy, but If the govt wants to prove it's on the side of ordinary people, tackle the profiteering energy cartels now#BBCBreakfast#r4today — Adrian Gosling (@digitalsunshine) February 25, 2025 The so-called energy regulator Ofgem says energy bills from April will rise by 6.4% The Government must step in and impose a real price cap and tax energy profits more to provide extra help to to end this rip off, we must bring energy back into public ownership. — Richard Burgon MP (@RichardBurgon) February 25, 2025 Meanwhile, Bob Ward from the Grantham Research Institute on Climate Change and the Environment at the London School of Economics and Political Science, warned the public that the increase has 'nothing to do' with the government's net zero plans. He claimed: 'Unfortunately there are some British politicians who will try to fool the public into believing that climate policies are responsible when it is our dependence on expensive fossil fuels that is making us colder and poorer. 'The only way to cut energy bills is to use cheap clean British renewables instead of expensive natural gas for heating and electricity. 'And approving new gas production in the North Sea will make no difference to bills because it will be sold on international markets and not at a discount to British households and businesses.' Energy Bills Set To Soar As Price Cap Goes Up By 10% 'Scandalous': Critics Flooded With Outrage As Water Bills Set To Rise An Average Of 26%This Year Martin Lewis Urges People Born Between These Years To Put £1 In An ISA
Yahoo
22-02-2025
- Business
- Yahoo
7 money changes that will affect your bills in the next month
The New Year has ushered in a raft of financial changes that could hit your pocket. Energy bills have risen for millions of households as have broadband and mobile phone bills. Meanwhile council tax increases are being rubber stamped in every part of the country. In April things will change again as we usher in the new financial year. The Department for Work and Pensions (DWP) will increase universal credit, PIP and attendance allowance for millions at the end of March. You can read the full list of payments affected here. But before then there are seven other financial changes to come before the end of this financial year. For money-saving tips, sign up to our Money newsletter here READ MORE: Martin Lewis reveals exact date you should check for the cheapest car insurance renewal quote READ MORE: DWP to increase universal credit, PIP and attendance allowance for millions in matter of weeks - full list Warm Homes Discount deadline - February 28 The Warm Homes Discount deadline will pass on February 28. The gives those who qualify an extra £150 off their energy bills. It is available to those on most energy firms in the UK, such as British Gas, EON, EDF, Scottish Power, Scottish Gas, Utilita, Octopus and more. Eligible individuals should have received a letter by the end of January, but you need to contact the Warm Home Discount Scheme helpline if you haven't had one yet. February 25 - Ofgem price cap announced and energy bills rise On February 25, energy regulator Ofgem will announce the latest price cap. Based on Cornwall Insight predictions there will likely be another increase, with money expert Martin Lewis advising that bills are likely to increase again by roughly another 3%, or £47 a year. It will be the third time in a row that Ofgem has chosen to increase prices. It would set the new rate at £1,791 a year for a typical use average household. Free wills month Each year in March and October, Free Wills Month allows people over the age of 55 to get a simple will written or updated for free. Many charities and hundreds of solicitors across the UK take part. Rail fares to rise - March 2 Rail fares will increase from March 5. In Wales, the Welsh Government agreed to an increase in regulated rail fares of 4.6%, with the rise to take place on March 2. This is in line with the increase already announced for fares controlled by the UK Government. However, Transport for Wales will be applying different increases to each regulated product. Anytime Day Single fares will increase by 3%, 7-Day Season ticket fares will increase by 3.5% and Anytime Day Return fares and Off Peak Return fares will both increase by 6%. Economic and Fiscal Forecast - March 26 According to recent government announcements, the next "Economic and Fiscal Forecast" is scheduled to be published on March 26. This is a report that predicts future economic conditions and will be produced by the Office for Budget Responsibility. More stamp duty to pay - March 31 At the end of March, there will be a change to stamp duty rates. In September 2022 the threshold at which this tax had to be paid was increased to £250,000 from £125,000. The threshold for first-time buyers was also raised from £300,000 to £425,000 and the maximum amount a property is worth to benefit from the relief was increased to £625,000 from £500,000. But from March 31, all of these measures will be scrapped. Household support fund to end - March 31 The Household Support Fund was introduced during the cost of living crisis to help low-income families. It is set to be scrapped on March 31. It gave councils extra money to help vulnerable households with everyday living costs.
