Across the UK, millions of families are struggling under the weight of spiralling costs of living. Soaring energy prices are a key driver. Despite the welcome one-off support recently announced by the Chancellor, the situation is unlikely to improve in the short or medium term. Ofgem has predicted that the energy price cap will hit £2,800 in October. The underlying volatility in the price of oil and gas causing the price spike is not predicted to subside for the foreseeable future.
The UK government has provided £37bn this year just to keep people afloat. Investing now in long-term, enduring solutions can prevent similar sums from being required up to 2030 and potentially beyond. The government could act now to reliably lower bills by launching a national mission to upgrade the UK’s cold and leaky homes. Against this backdrop, E3G has published a briefing paper titled “Home energy security strategy: the permanent solution for lower bills”.
Read the briefing paper by E3G here