House of Commons · Written Ministerial Statement
Energy Prices Act 2022 and Expenditure on Energy Schemes – Q2 and Q3 2023
22 April 2024 · Department for Energy Security and Net Zero
Proposed by Claire Coutinho Con East Surrey
Summarised by AI from the official record, so it can contain mistakes.
At a glance
Key points
- The Government has spent over 43 billion between October 2022 and September 2023 to subsidise household bills.
- Forecasts indicate continued support for energy subsidies in the fiscal year 2023-2024.
- The statement details the costs of schemes such as the Energy Bills Support Scheme and Energy Price Guarantee.
Issue summary
The statement discusses the expenditure on energy schemes under the Energy Prices Act 2022 for Q2 and Q3 2023.
Action requested
The Government has spent over £43 billion between October 2022 and September 2023 to subsidise household bills, with forecasts indicating continued support in FY23-24. The statement also outlines the costs of various schemes such as the Energy Bills Support Scheme and Energy Price Guarantee.
Key facts
- Over £43 billion was spent between October 2022 and September 2023 to subsidise household bills, the most ever provided in UK history.
- The government's windfall tax on producers is expected to raise over £26 billion by March 2029.
- Government support schemes covered nearly half of household energy bills between October 2022 and June 2023, saving households an average of £1,500.
- Cumulative expenditure incurred for the Energy Bills Support Scheme GB & NI to 30 September 2023 was £11,873m.
- Forecasts indicate FY23-24 expenditure will be £4.3bn for the Energy Price Guarantee and £0.6bn for Non-Domestic energy support.
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