No funding for energy demand reduction in Budget causes ‘frustration’

E.ON UK Chief Executive Michael Lewis has expressed frustration over the lack of funding for long term energy saving solutions

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E.ON UK Chief Executive Officer Michael Lewis has said he is frustrated that the Chancellor’s Budget does not include investment in measures to drive energy demand down.

Mr Lewis said: “I am frustrated that new funding to support energy demand reduction is missing from today’s Budget as we all know energy efficiency is the best investment for the country when households are struggling: it makes homes more comfortable, relieves pressure on our health service, cuts energy  costs, grows the economy with new green collar jobs, and contributes to net-zero on a sustainable basis.”

The boss of the energy company has called the government’s Budget energy policy updates a “mixed bag”.

Lewis has praised the government’s support for customers but expresses concern over the lack of longer term direction.

The extension of Energy Price Guarantee beyond April 1st is welcomed by E.ON UK. The company fears the cost of energy remains unaffordable for many families.

Michael Lewis said: “Energy prices are still double what they were in 2020 and remain unaffordable for many. Our concern is that families will still need help next winter if wholesale prices stay the same and there is nothing in today’s Budget that signals a longer term plan to reduce energy consumption and cut bills.”

Lewis urges the government to provide targeted support for financially vulnerable customers, such as pensioners and those on disability benefits.

He has proposed a social tariff that could benefit millions of customers by next spring.

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