“The reduction in the Ofgem price cap and the fall in energy bills by £117 is welcome news for homeowners across the UK. After a prolonged period of high energy costs, any step that eases the burden on households is clearly positive.
The fall is proof that action taken by the Government since the autumn statement to reduce bills is working, and long-term commitments like the Warm Homes Plan are welcome, but there is still more to be done.
The ongoing imbalance between electricity and gas prices remains a significant challenge to everyone’s energy bills. While the price of electricity generated by solar and wind falls, the price the consumer pays continues to be higher than gas. This disparity risks slowing the uptake of cleaner heating solutions at a time when we need to accelerate progress.
We know that heat pumps and other renewable heating technologies are among the most efficient and sustainable options available to homeowners, but their full cost-saving potential is being constrained by high electricity prices.
For our part, we are looking for new innovative ways to overcome barriers that hinder the mass roll out of heat pumps. This is where modern heat pumps can make it quicker, less disruptive, and more attractive for households.
However, if we are serious about decarbonising heat and bringing long-term energy bills down, more action must be taken to rebalance policy costs and make electricity more affordable.”
