New plan to cut daily energy standing charges could see people save over £183

A new discussion paper that would see energy standing charges reduced has been published by campaigners. Future Energy Associates have identified how standing charges for every household with electricity and gas connections could be cut by over £152 from £334.08 a year to £183.02 - a reduction of almost half .

The analysts identified that up to £5 billion a year of costs on energy bills could be moved to general taxation. Policy makers could remove these costs from all bills, which would bring down electricity unit rates as well or remove the costs just from vulnerable low income households with high energy needs.

Top Money Stories Today Dylan Johnson, one of the analysts involved in the report, said: “The comprehensive changes we have suggested would bring down standing charges and could also mitigate negative distributional impacts of standing charge reform previously identified by Ofgem. We would urge new ministers to meet with industry, consumer groups and experts to analyse how we can change standing charges in a way that is fair to all households.

“However, this report does indicate that reform of standing charges may actually be possible in a fair way. It will need Ofgem, the next Government, energy industry and consumer groups to work together to make it happen. The prize of cutting standing charges in half before this winter should be one which new Ministers seize upon.”

“The next UK Government will need to act quickly, bring down bills for good, end energy debt, improve housing standards through insulation and ventilation and also make Britain a clean energy superpower so we are not at the mercy of profiteering global oil and gas giants."

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Families’ energy bills to fall by £122 as new energy price cap announcedEnergy regulator, Ofgem's energy price cap is set to go down in July, meaning families will on average be paying less for their bills
Source: Netmums - 🏆 42. / 63 Read more »

SONI: preparing for a cleaner energy future'By working together, we can reduce our carbon emissions, mitigate climate change and ultimately, deliver a cleaner energy future for everyone in Northern Ireland'
Source: BelfastLive - 🏆 16. / 77 Read more »

Households look to future-proof homes to reduce energy billsNew research from Smart Energy revealed more than one in five Brits are looking to invest in home improvements over the next year
Source: BelfastLive - 🏆 16. / 77 Read more »

Banstead: Renewable energy centre aims to encourage green techThe SME Energy Centre aims to change the 'negative narrative about renewable energy'.
Source: BBCScienceNews - 🏆 87. / 53 Read more »

What is Labour’s Great British Energy plan and will it mean cheaper bills?Labour says it plans to cut energy bills by £300 by investing in renewable energy
Source: i newspaper - 🏆 8. / 89 Read more »

Rising Star Octopus Energy Signs Energy Storage DealGresham House Energy Storage Fund has announced a landmark agreement with Octopus Energy, one of the UK's largest andfastest-growing energy suppliers.
Source: OilandEnergy - 🏆 34. / 68 Read more »