John Healey to end standing charges on gas bills for 23m homes
Summary
Chancellor John Healey said he will ask Great Britain’s energy regulator, Ofgem, to abolish gas standing charges for 23 million homes next year or as soon as possible afterward. The Treasury estimates that about 60% of account-holding households would save an average of £45 a year.Key Facts
- A gas standing charge is a fixed daily fee that households pay regardless of how much gas they use.
- The typical household’s gas standing charges total £108 a year.
- Healey described the charges as unfair and outdated and said their removal would give households more control over bills.
- Ofgem sets the energy price cap in Great Britain.
- The government’s electricity VAT cut took effect at the beginning of October, reducing the price cap by £45 a year compared with what it otherwise would have been.
- About one-third of households on fixed tariffs are not affected by the price cap.
- The government approved the Jackdaw gasfield in the North Sea and announced an energy wealth fund for investment in clean power.
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