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Extending the Energy Company Obligation (ECO) to allow householders to compare their energy bills with neighbours could help them save up to £70 per year, claims a report by Policy Exchange.
‘Smarter, Greener, Cheaper’ says homeowners reduce their gas and electricity consumption when they compare their bill to an energy efficient neighbour.
The report proposes an extension to ECO to allow schemes that can help households reduce their energy bills to compete for subsidies, adding that eligible programmes could include home visits to show people where they are wasting energy.
This could allow people to anonymously join a scheme which would let them compare their bills with those living in similar sized properties – and potentially reduce their energy use.
Guy Newey, author of the report, said: “Households need support to understand where they can make savings. If you find out your neighbour is paying £50 a month less for their energy, you’re much more likely to do something about reducing your own energy use.”
The report also recommends that the government works closely with community groups and civil society to act as champions for smart meters, and organises a national advertising campaign to highlight the benefits of smart meters – and how the programme fits in with other energy efficiency policies, such as the Green Deal.
It also calls for an urgent review of Ofgem and the government’s attempts to ‘simplify’ the number of energy tariffs, claiming this risks undermining the potential of innovative smart meters tariffs.
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