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<p>The transition to a clean, low carbon economy can help give us towns and cities
with cleaner air and warmer homes with lower bills, while growing our economy and
supporting new jobs in growing low carbon industries.</p><p> </p><p>But as our economy
changes, we must make sure that this growth is inclusive, benefits people right across
the UK, supporting workers as industries change and ensuring the costs as well as
the benefits are shared fairly, protecting consumers, workers and businesses. That
is why we have announced that HM Treasury will be conducting a review into the costs
of decarbonisation, including how to achieve this transition in a way that works for
households, businesses and public finances, and the implications for UK competitiveness.</p><p>
</p><p>Energy efficiency will help keep costs down for consumers, while supporting
the decarbonisation of the housing stock towards carbon targets. The annual running
costs of a Band C rated home are £650 lower than the average Band E rated home. This
is why we set out our aspiration in the Clean Growth Strategy that as many homes as
possible should be EPC C Band C by 2035 where practical, cost effective and affordable.
Low income and vulnerable households are supported in making energy efficiency improvements
under the reformed Energy Company Obligation (ECO) scheme. Eligibility for the new
scheme includes around 6.7 million low income households, an increase from around
4.7 million from the previous ECO2t scheme.</p><p> </p><p>Domestic energy costs are
also kept down through Ecodesign regulations which improve the sustainability and
energy efficiency of energy-related products and appliances, and Energy Labelling
regulations which allow consumers to choose the most energy efficient products. In
2020, the Government’s current estimates show that ecodesign and energy labelling
requirements will save around £100 for the average dual-fuel household on their energy
bills. Going forward, we will continue to support ambitious requirements which will
further minimise energy bills for households and carbon emissions.</p><p> </p><p>Additionally,
smart meters are already reducing how much energy consumers use and saving them money.
Smart meters will support the realisation of billions of pounds of benefits to Great
Britain over the next few decades, through avoiding costly network upgrades, supporting
more rapid integration of electric vehicles and renewable generation, and more efficient
use of the national grid system. This will ultimately lower emissions, cut costs,
and give households more control.</p><p> </p><p>The Government is reviewing the future
energy retail market jointly with Ofgem to ensure all consumers secure a fair deal
for their energy and are appropriately safeguarded in the future.</p>
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