Autumn Statement – Extra £6bn for insulation grants to cut £450 off energy bills announced by Jeremy Hunt

EXTRA cash for green grants to help Brits save money on their energy bills has been revealed by Jeremy Hunt today.

The Chancellor used his Autumn Statement to announce a whole raft of extra cash to help hard-up families make their homes more energy efficient.

Autumn Statement – Extra £6bn for insulation grants to cut £450 off energy bills announced by Jeremy Hunt
Brits will get more help to insulate their homes

Mr Hunt told MPs today he wanted to cut the amount Brits were spending on energy bills: “In this Parliament, we’re already planning to invest, in energy efficiency, a total of £6.6bn.

“Today, I’m announcing new funding, from 2025, of a further £6bn – doubling our annual investment to deliver this new national ambition.

“Our commitment to the British people is, over time, to remove this single biggest driver of inflation and volatility facing British businesses and consumers.”

Ministers want to slash energy consumption from buildings and industry by 15%.

This could mean a £28bn saving from our national energy bill or £450 off the average household bill, he said.

And there will be a new energy efficient taskforce.

It comes in a gloomy Autumn Statement where the Chancellor drove up taxes and slashed spending in a scramble to balance the books. 

It comes after the hugely popular Green Homes Grant scheme – which was beset with technical problems – was ditched last year.

The Chancellor wants to slash demand for pricy electricity and gas down by getting people to use less.

Rishi Sunak hinted last week he would bring forward insulation help for struggling Brits – in an interview with Trending In The News.

  • Read more on our Autumn Statement live blog here

It will be mean more help for people to install double glazing, loft and cavity wall insulation – on top of the help already out there.

He said people were “rightly anxious about bills” this winter and wanted to do more to help improve energy efficiency ratings and keep the heat into homes.

The PM said ahead of the COP27 eco summit: “We need to make sure that money we are spending is getting to the people who we want it to help, we want to make sure people who will really benefit from those upgrades, get them, and we deliver it properly, that’s what I want to make sure that we do.

“People are rightly anxious about bills – if we can go and embark on a programme of improving energy efficiency of people’s homes… it cuts peoples bills by hundreds of pounds and it helps us meet our climate objectives.”

What other support is available?

There are several support packages offered to households struggling to pay their energy bills.

The Energy Company Obligation Scheme offers grants for improving the energy efficiency of your home.

The ECO grants are given out by energy suppliers and can help you replace an old boiler, add cavity wall insulation or loft insulation.

The support ranges from covering some of the cost, to all of it, and can save you hundreds of pounds.

Contact your local council to find out if they’re taking part in the ECO scheme, or contact your energy supplier directly.

You can find contact details of suppliers who are taking part in the scheme on the Ofgem website.

Another helpful scheme is the Boiler Upgrade Scheme which offers a grant for those replacing their fossil fuel heating systems with a heat pump or biomass boiler.

Recipients can get a partial grant to help them cover the cost.

This scheme is only open to households in England and Wales and you should check you’re eligible before you apply – for example, you must own the property you’re applying for.

Another home support scheme is the winter fuel payment scheme, where over 65s can get between £100 and £300 to offset the cost of keeping their homes warm.

Most payments will be made automatically in November and December but it’s best to wait until January 2023 before you contact the government if you haven’t got yours.

Another scheme recently launched to help people pay their energy bills is the National Grid Scheme.

Some energy suppliers will offer customers £100 if they turn off their appliances this Winter amid blackout warnings.

Autumn Statement – Extra £6bn for insulation grants to cut £450 off energy bills announced by Jeremy Hunt
Jeremy Hunt ahead of his statement earlier today