Low-carbon energy measures reducing UK household bills
New analysis by the Committee on Climate Change has revealed that the UK’s low-carbon drive has reduced emissions without increasing the average household energy bill.
Although there has been around a £9 increase in the average UK household energy bill due to the shift towards low-carbon electricity, this has been more than offset by a £20 reduction due to reduced energy demand from more efficient lights and appliances.
The findings from the fourth independent assessment of the impact of carbon budgets on energy bills by the Committee on Climate Change has found that the typical household has saved around £290 a year since 2008 due to improvements in energy efficiency – primarily as a result of new energy efficient appliances.
Low-carbon policies could result in increases of £85 - £120 to the typical household bill by 2030, however further improvements to energy efficiency could offset this, with reductions of £150 a year.
Whilst UK electricity prices for businesses are higher than in comparable countries, primarily due to higher wholesale and network costs, the assessment also reveals the opportunities available over the coming years. The low-carbon economy currently makes up 2-3% of UK GDP, the same as the oil, gas and coal extraction sectors put together. As the move towards a low-carbon economy continues, there will be opportunities across current and new sectors of the economy.