Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Claire Coutinho Mulls Overhaul of Green Levies on Electricity Bills

by April 2, 2024
April 2, 2024
Claire Coutinho Mulls Overhaul of Green Levies on Electricity Bills

Claire Coutinho, the Energy Secretary, is exploring the possibility of removing £4 billion of green levies from household electricity bills, considering options such as transferring some or all of these charges to gas bills or funding them through general taxation.

The move comes amid concerns that these levies are hindering the adoption of technologies like heat pumps and electric cars, crucial for achieving net-zero emissions by 2050.

Currently, green levies contribute around £142 to the average electricity bill, compared to just £46 for gas bills, primarily due to charges associated with renewable energy schemes and bill support for low-income households. While shifting these charges away from electricity bills could incentivize the uptake of eco-friendly technologies, it may pose challenges such as increased energy costs for gas-connected households and potential exacerbation of fuel poverty.

Energy industry stakeholders, including major companies like Centrica, E.On, and EDF, support the move, arguing that the current setup creates disincentives for customers to embrace green alternatives. However, the proposal may face opposition, given concerns about the impact on gas consumers and the broader tax burden.

Although no official decisions have been made yet, Coutinho has received a report on the matter and is considering the options. Any proposals will need to strike a balance between affordability and fairness for consumers. With local elections approaching and a general election on the horizon, the government faces a tight timeline for implementing any changes to the current system.

Read more:
Claire Coutinho Mulls Overhaul of Green Levies on Electricity Bills

0
FacebookTwitterGoogle +Pinterest
previous post
Should You be Concerned About These Four Stocks?
next post
Open Plan Offices Pose Challenges for ADHD Workers

You may also like

Cambridge Satchel Company founder Julie Deane packs her...

October 17, 2022

Sainsbury’s to close two Argos distribution sites risking...

March 1, 2023

5 Reasons Why Your Business Needs Software

February 28, 2023

Government borrows less than expected in September

October 23, 2023

Presence & people – key success factors for...

June 20, 2024

UK’s largest car plant focus of concern by...

February 7, 2023

Falling gas prices could take bills below £3,000...

January 24, 2023

How does the latest Google update impact SMEs?

September 10, 2024

Top Tips for Optimising Your eCommerce Strategy with...

July 2, 2024

Bank of England governor Andrew Bailey says Peak...

September 7, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,568)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved