The chief of E.ON has hailed energy efficiency as the silver bullet in the cost of living and environmental crisis.
Michael Lewis told MPs on the Environmental Audit Committee: “We need to look at what additional support we need to give to customers because the price is not going suddenly to fall back to where it was pre the Ukraine invasion.
“Next year, it will probably come down somewhat, will still be relatively high – our plea to the government has always been to push hard on energy efficiency because that is the proven way, if you like the only silver bullet for this crisis that will reduce prices, reduce energy consumption and contribute to net zero on a sustainable basis.
“So, the next phase of tackling this has to be a massive ramp-up in measures to deal with energy efficiency.”
It is estimated that there are currently 19 million UK homes that are not energy efficient.
Asked about whether energy efficiency measures can be scaled to ease the financial pain felt by customers in the short term, Mr Lewis said: “You can do things very quickly. Through the ECO scheme, for instance, we have done about one and a half million measures over the last few years.
“They have a tangible effect and a very quick effect. Obviously, you are not going to decarbonise and make energy efficient or bring every home up to EPC in the next six months.
“It will take many decades, but we have to start now. And importantly, we have to send a signal to the supply chain that is worth training up the people.”