|Regulatory Framework Name||Energy Bills Rebate|
|Regulatory Framework Description||On 3 February 2022, the UK Chancellor Rishi Sunak has announced £9.1 billion Energy Bills Rebate to support families with rising global energy prices. The Energy Bills Rebate will provide around 28 million households with an upfront discount on their bills worth £200. Energy suppliers will apply the discount to domestic electricity customers from October, with the Government meeting the costs. The discount will then be automatically recovered from people’s bills in equal £40 instalments over the next five years. This will begin from 2023, when global wholesale gas prices are expected to come down. Households in England, which are in council tax bands A-D, will also receive a £150 rebate. The rebate to bills will be made directly by local authorities from April. This will not need to be repaid. This one-off payment will benefit around 80 per cent of all homes in England and is £1 billion more generous and more targeted towards lower-income families than a VAT cut on energy bills. On top of this discount, discretionary funding of £144 million will also be provided to support vulnerable people and individuals on low incomes that do not pay Council Tax, or that pay Council Tax for properties in Bands E-H. Devolved governments in Scotland, Wales and Northern Ireland are expected to receive around £565 million of Barnett funding as a result of the Council Tax Energy Rebate in England. While for energy bills, Northern Ireland will be funded to provide comparable support with around £150 million through the Barnett formula next year.|
|Country of Implementation||United Kingdom|
|Regulatory Framework Reference||https://www.gov.uk/government/news/millions-to-receive-350-boost-to-help-with-rising-energy-costs|
Energy Bills Rebate
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We have fund our selves at a crossroads. Buildings energy efficiency is not moving fast enough to meet the Paris Agreement goals. Innovative financial instruments, business models and regulatory frameworks are urgently needed.
We can continue in this direction. Or we can explore a new way forward. The encyclopenergy aims to do just that in a bid to streamline and optimise the way the built environment community shares knowledge.
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The project ‘Climate Positive Circular Communities’, short name ARV, is funded by the European Green Deal initiative as an Innovation Action within the Horizon 2020 Framework Programme. The enclycopenergy is a flower germinating from the ARV in order to map the world state of art when it comes to energy efficiency financing, business models and regulatory frameworks. The Green Digital Finance Alliance as an ARV Consortium partner is in the lead of such an effort.
The Encyclopenergy is a crowd-open-sourced encyclopedia of energy efficiency enablers. It is a crowdsourced global catalogue of financing tools, business models, and regulatory frameworks enabling, empowering, and scaling energy efficient solutions for the built environment. It also offers intelligence to list demonstrations and organization working in the field with the hope this will be a boomerang to boost the renovation wave.
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Information in this encyclopedia serves for informational purposes only. The information has been crowed-collected from sources believed to be reliable, and input has been approved by the Green Digital Finance Alliance (GDFA) team by a validation process via desk research following a transparent approach. However, GDFA does make any express or implied warranty or representation concerning the completeness or correctness of information provided. Therefore, GDFA hereby disclaim any liability for any loss or damage resulting from use of information in this encyclopedia or reliance or decisions based upon the information or outcomes of this database.Each user and/or third parties are advised that they are responsible for reliance on the database, data, information, findings and opinions provided by GDFA.
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This project has received fundings from the European Union’s Horizon 2020 research and innovation programme under agreement No 101036723