In the Autumn Statement 2022, the government took the difficult decisions needed on tax and spending to restore economic stability, which allowed the Government to provide support for billpayers with the cost of energy. In the Spring Budget 2023, the government is continuing this support and laying out its plans for Britain’s energy future.
Rishi Sunak’s government is extending government support to help with energy bills, including a £200m subsidy to bring energy charges for prepayment meters into line with prices for customers paying by direct debit. This will benefit 4 Million households.
The government is also providing £20bn over the next two decades for low-carbon energy projects, with a focus on carbon capture and storage technology, which will increase the national energy supply & reduce future costs. Nuclear energy will be recognised as environmentally preferable to fossil fuels & further investment sought, which help move the United Kingdom towards energy self-sufficiency.
There is also a £500m investment to make the UK's homes more energy efficient. The government says it wants to build on this with a further £100m of funding for energy efficiency in homes, funded by the UK's largest-ever auction of carbon allowances.
This will be used to help low-income households make their homes warmer and more comfortable, reducing fuel bills and improving their quality of life. This funding will help about 50,000 homes. It's also looking for bids to provide £50m worth of carbon credits for anaerobic digestion projects, which turn waste into energy. These are likely to include food waste from supermarkets or other sources such as farming and forestry.
