Have energy companies profited a £2bn windfall from not passing on green levy savings?
New research claims that the big six energy companies could pocket a cool £2bn windfall over the next 3 years as the government miscalculated a deal to cut green levies. Last yea the government halted green levy charges after energy companies blamed them for their price hikes, so what exactly is happening now?
In a joint open letter to the Prime Minister from the trade association for the solid wall insulation industry, inca and other energy efficiency groups expressed views that the actual savings to the big six energy companies go far beyond the £35 you have persuaded them to give back to customers equating to a £1-£2bn over the next 3 years.
Prime Minister David Cameron urged that the targets of the Energy Company Obligation (ECO) home insulation scheme should be watered down to assist energy suppliers In slashing £50 per household from bills.
According to research by the Insulated Render and Cladding Association changes to the energy efficiency scheme could still leave households overpaying an eye watering £23 a year unless energy suppliers cut bills further or reinvest the money in more insulation.
If you're interested in the latest energy news, ou can follow My Electric Radiators on twitter, Google plus and Facebook. We supply energy efficient heating systems such as ground breaking energy efficient electric radiators to ensure that you keep your energy bills low and reduce your carbon footprint!