Conservatives plan to reduce electricity prices with retrofitting

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A new plan by the Conservative party to retrofit UK housing with energy saving technology could help push down peoples' electricity and gas bills.

The plan would see homeowners receiving up to £6,500 to improve their homes energy efficiency.

Speaking to bdonline.co.uk, Greg Clark, the shadow energy and climate change secretary, said: "[Retrofitting] would be a big source of innovation. The manufacturers of energy-saving equipment will benefit, installers will benefit."

The party stated that the move would generate £20 billion for the UK's economy if during the next decaded a million households a year spent £2,000 on making their homes more energy efficient.

Allocated payments to install insulation, efficient boilers and other energy saving technologies would create large savings on energy consumption in the future, the party said.

On April 1st members of the Existing Homes Alliance, which was founded by the Chartered Institute of Housing said the government needs to tackle emissions from British homes if it is to hit its climate change targets.

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