Author: paragon

As 2024 has drawn to a close and we step into 2025, we’re kicking off the new year on a high note by celebrating our first Employees of the Month 🥳

Our joint winners this month are Ed and Ebony👏🏼

Ebony was recently promoted to Business Development and Funding Executive and has truly flourished in this role. She has taken her new responsibilities in her stride and has demonstrated unwavering dedication to the organisation.

Similarly, Ed has once again proven to be an invaluable member of the team as we closed out 2024. His hard work and commitment played a pivotal role in driving us toward our 2024 targets, setting out as we mean to go on for 2025.

Well done both, we truly appreciate you🤝🏼

#eco4 #renewableenergy #renewables #ecoscheme #solarpanels #employeeofthemonth #gbis

As part of our commitment to keeping you informed about energy costs, we want to update you on the latest changes to the energy price cap, which will be in effect from 1 January to 31 March 2025.

What is the Energy Price Cap?

The energy price cap sets a limit on how much suppliers can charge for each unit of energy (electricity and gas) and the daily standing charge. It is reviewed every three months to reflect changes in wholesale energy prices and other costs.

Key Changes to the Price Cap

– From 1 January to 31 March 2025, the price for energy for a typical household using electricity and gas and paying by Direct Debit will increase by 1.2% to £1,738 per year.
– Despite this increase, the new price cap remains 10% (£190) lower than the cap set for 1 January to 31 March 2024 (£1,928 per year).
– The change is primarily driven by high wholesale energy prices due to ongoing global factors.

Who is Covered by the Energy Price Cap?

You are covered by the price cap if you pay for your electricity and gas through any of the following methods:

– Standard credit (paying after receiving your bill)
– Direct Debit
– Prepayment meter
– Economy 7 (E7) meter

However, the actual amount you pay will depend on your household’s energy usage, your location, and your meter type.

New Energy Price Cap Rates (1 January – 31 March 2025)

Electricity Rates

If you are on a standard variable tariff (default tariff) and pay by Direct Debit:

– Unit rate: 24.86 pence per kWh
– Daily standing charge: 60.97 pence per day
(Averages across England, Scotland, and Wales, including VAT)

Gas Rates

If you are on a standard variable tariff (default tariff) and pay by Direct Debit:

– Unit rate: 6.34 pence per kWh
– Daily standing charge: 31.65 pence per day
(Averages across England, Scotland, and Wales, including VAT)

How is the Price Cap Calculated?

The energy price cap consists of various costs, including:

– Wholesale gas and electricity costs
– Energy network supply costs
– Operating costs and VAT
These costs are distributed between the unit rate and the standing charge to ensure a fair pricing structure.

How Can You Reduce Your Energy Bills?

While the price cap sets a limit on what suppliers can charge, you could pay less by:

– Switching energy suppliers
– Changing your tariff or payment type
– Improving your home’s energy efficiency through insulation and heating grants

Next Energy Price Cap Review

The next price cap, covering 1 April to 30 June 2025, will be published by 25 February 2025. Stay tuned for further updates to ensure you stay informed about energy pricing changes.

If You’re Struggling With Your Bills, Contact Us

If you’re struggling to pay your heating bills this winter, don’t hesitate to contact us to see whether you could qualify for a grant to help with your heating bills. Whether it’s free insulation, solar panels, or even a new boiler, we provide free energy efficiency updates for households that qualify, to make your home warmer and cheaper to heat.

As January draws to a close, here are the top 8 news stories that may affect your household going into the remainder of 2025:

1. Energy Price Cap Update: Rising Costs for Households
The new year began with a challenging announcement for UK households: the energy price cap has risen to £1,738 annually for dual-fuel households, effective January 1, 2025. The increase, announced by Ofgem, reflects ongoing pressures from elevated wholesale energy costs. Millions of households already grappling with high energy bills are expected to feel the strain, sparking further discussions about affordability and energy policy.

2. UK Electricity: Cleanest Ever in 2024
Despite financial challenges, there’s reason for optimism as the UK reported its cleanest-ever electricity generation in 2024. A record-breaking 58% of the nation’s power came from low-carbon sources, including wind, solar, and nuclear energy. Renewables alone accounted for 45% of electricity generation, highlighting the nation’s progress toward a greener future.

3. £6 Billion Funding Drive for Energy Efficiency
The UK government unveiled a bold £6 billion funding package aimed at boosting energy efficiency and clean heating between 2025 and 2028. The plan includes grants for retrofitting 200,000 low-income homes, increased funding for the Boiler Upgrade Scheme, and investments in local and social housing decarbonization initiatives. This funding is expected to accelerate the adoption of energy-saving measures, making homes warmer and more affordable to heat.

4. New Household Energy Efficiency Statistics Released
The Department for Energy Security and Net Zero released the latest Household Energy Efficiency Statistics, shedding light on the impact of government schemes like the Energy Company Obligation and the Green Deal. The report provides insights into energy savings achieved, costs of delivery, and a geographical breakdown of installed measures, giving policymakers and the public a clearer picture of progress in energy efficiency.

5. Renewables Hit 45% of UK Energy Mix
In a significant milestone, renewable energy sources contributed 45% to the UK’s energy mix, while gas-fired power output fell to its lowest levels in 20 years. This shift underscores the growing dominance of renewables and the country’s decreasing reliance on fossil fuels, aligning with the government’s ambitious net-zero goals.

6. Good Energy’s £100 Million Takeover by UAE-Linked Firm
In a major development for the renewable energy sector, British green electricity supplier Good Energy agreed to a near-£100 million takeover by Esyasoft, a company linked to the Abu Dhabi ruling family. The acquisition is expected to enhance Good Energy’s ability to scale its impact on climate change, expand its solar business, and grow its electric car charger app internationally.

Looking Ahead
January 2025 has been a pivotal month for energy in the UK. While challenges such as rising energy prices persist, the sector is seeing unprecedented investment in clean energy, efficiency, and innovation. With the government and private sector working together, the UK is making significant strides toward a sustainable energy future.

And you could be a part of this movement too! You could be eligible for up to £45,000 of home upgrades to make your home more energy efficient. To find out, head to Apply Now, or call us on 01554 788766.

What are your thoughts on these developments? Share your views with us on our social media platforms.