Ofgem has today announced that there will be yet another energy price cap rise. Energy costs may already be too high for families across Britain but, as of October, these costs are set to rise again to around £1,755 per year for a typical household. Even more than anticipated! At Global Eco, we think enough is enough.
What this means for Households
This rise represents an additional burden for many households, compounding the difficulties experienced since the 2022 energy crisis.
The price cap (the tariff you default to if you are not already on a fixed tariff) is designed to protect households. It sets the maxiumum price you can be chrged for each unit of gas and electricity. However a major flaw of this cap is that as energy prices rise, so does the cap. With the latest rise, households are paying over £600 more per year on their energy bills than pre-energy crisis back in 2022.
Fuel poverty is a very real issue felt by many families across the UK and while this increase may not appear dramatic, when energy bills are rising year on year, the implications are immense. With energy costs being described by the Guardian as being at ‘little chance of falling’ due to how volatile the international gas market in particular is, there is no end in sight for these fluctuations.
How can Renewable Energy Help?
You might be wondering how you can take back control of your energy bills and you aren’t alone! Luckily, Global Eco have the perfect solution for you.
Air Source Heat Pump
ASHPs are 3x more efficient than a gas boiler and produce 2-3x fewer CO2 emissions yearly. This increased efficiency leads to less energy consumption which means less running costs!
You may have heard that ‘ASHPs aren’t as good as a gas boiler in the winter’, but even during winter they still run at around 200% efficiency.
Solar PV
Generate your own electricity, reducing your independence on the grid and therefore protecting you from energy price hikes. Even better, if you install Battery Storage alongside your Solar PV, you can store excess energy to be used when energy prices are at their highest or to run your heat pump overnight when your panels are no longer generating.
What funding is available?
Home Energy Scotland are currently offering grant funding and loan options for various renewable energy and energy efficiency home upgrades. Clean heating systems are Installations covered include:
| Measure | Maximum Grant |
|---|---|
| Air/ground/water to water source heat pumps | £9,000 |
| Flat roof or Room-in-Roof Insulation | £3,000 |
| Loft, Cavity & Underfloor Insulation | £3,000 |
| High heat retention storage heaters | £2,500 |
Loan funding is also available for each measure, more details regarding this can be found at Home Energy Scotland. Unfortunately Solar PV funding was scrapped back in 2024 and there looks to be no immediate plans to reinstate this funding.
How can Global Eco help?
If you are sick of fluctuating energy prices, there has never been a better time to reach out to Global Eco Energy Solutions. Renewable energy can transform your bills and protect you from these constant price hikes, with winter coming there is no time to waste. We offer a free no-obligation survey and quote that will allow you to see how an ASHP or Solar PV system could benefit your home. Our Energy Experts are well versed in all available funding and are on hand to help you access any grants and funding to make the process as simple and seamless for you as possible.
We also post energy savings tips every Tuesday on our social media accounts so give us a follow:
Beat the winter rush, you will thank yourself later!
