An influential think tank has questioned Rachel Reeves’ Budget pledge to cut the average household energy bill by £150 through the scrapping of an energy efficiency programme.
Speaking at Wednesday’s fiscal event, the chancellor said the energy company obligation (ECO) scheme will be ended to remove the levies that the programme adds to energy bills. At the same time, the government will absorb most of the cost of subsidies for older renewables projects for three years, taking this out of energy bills.
