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Big Six to get £2bn windfall?

The biggest energy companies in the UK could be in line for a £2 billion windfall over the next three years.

Research from Insulated Render and Cladding Association (Inca) has found the government may have miscalculated a deal to cut green levies.

Households could be overpaying by up to £23 a year for an energy efficiency scheme, unless suppliers reduce bills or use the money to install more insulation.

Last December, the prime minister approved an overhaul of the Energy Company Obligation (ECO) home insulation scheme and the changes were estimated to save companies up to £35 per household.

In a joint open letter to Mr Cameron, Inca states: "The actual savings to the 'Big Six' go far beyond the £35 you have persuaded them to give back to customers, representing a £1bn-£2bn windfall to energy suppliers over the next three years."

A few weeks ago, The Telegraph disclosed research by the Association for the Conservation of Energy that said the Big Six would save more than expected, but suggested the windfall would be £245 million.

Posted by Paul Taylor