E.ON comments on energy price cap

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Commenting on today’s Ofgem price cap announcement, E.ON UK Chief Executive Michael Lewis said:

“As we predicted, the overall downward trend in the wholesale markets since the start of February means customers on standard variable tariffs will benefit from a fairly significant reduction in bills from 1st October onwards. We’ll be writing to our customers in the coming weeks to make them aware of this change and how it benefits them.

“The price cap, set out as a fair price for energy, still leaves many people paying more than they should – simply because their homes are still using more energy than they should. Across the UK, up to 17 million homes1 still have one of the lower energy performance ratings. Whether you’re driven to cut energy bills or to help tackle climate change, we can all do things such as improve insulation, replace old heating systems with modern, more efficient versions, or install solar panels to generate your own power at home.

We have the opportunity with a new government to focus on bringing the standard of housing up to appropriate levels. We already know every pound spent on energy efficiency pays back more than three times2 – with the additional benefits that comfortable homes bring in terms of helping people to lead healthier lives and even perform better in schools3.

“We’re looking forward to that future energy world and it’s why we’ve taken the decision to provide all of our customers’ homes with a source of electricity backed entirely by 100% renewable sources. That’s the first step for many customers on a path which includes moving to more efficient and smarter homes that have better insulation, smart heating controls, solar and battery technology, heat pumps and electric car chargers to help our customers put themselves in control of their energy needs.”

Ends

1 = https://www.gov.uk/government/news/homeowners-could-cut-mortgage-rates-bills-and-emissions-with-new-green-mortgages

2 = https://researchbriefings.files.parliament.uk/documents/POST-PN-0550/POST-PN-0550.pdf

3 = https://www.energysavingtrust.org.uk/sites/default/files/reports/1-424-15_Payne.pdf

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