Part of the money is set to be used to fund the government's Carbon Emissions Reduction Target scheme, while some will also go towards a brand new initiative.
"Recent price rises mean we are committed to do even more to assist people in reducing their bills where possible," Mr Benn explained.
"This plan is about giving help, not only over weeks and months, but over the coming years by enabling householders to make their homes more energy efficient."
Allan Asher, chief executive of energywatch, recently claimed that the government's plans do not bring "immediate and much needed relief" to consumers who are set to struggle to meet their winter fuel costs.
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