NEWS: £27 shaved from annual home energy bills by renewables.
… Could have been £140 with faster roll-out. Britain’s wind and solar farms could help to reduce households’ energy bills by paying back almost £800m to consumers by the end of the winter after gas and electricity market prices rocketed above their set subsidy levels.
Households earned a £157m windfall from renewable energy generators for the first time in the final quarter of last year following record high market prices, according to official figures.
The body responsible for managing renewable energy payments, the Low Carbon Contracts Company (LCCC), has forecast paybacks from the industry could increase to a total of £770m by the end of winter, shaving an average of £27 from the annual home energy bill.
But customers might have been in line for multibillion pound paybacks worth about £140 for a typical annual energy bill if the UK’s renewable energy rollout had taken place sooner, according to the industry.