Secretary of State for Energy Ed Davey defends ECO scheme, blames suppliers for energy price rises

Since all of the 'Big Six' energy suppliers that have announced significant price hikes thus far have partially blamed their decision on the costs associated to the Government's Energy Company Obligation (ECO) scheme, Edward Davey, Secretary of State for Energy, has decided to provide an official answer on this matter and made official the exact figures associated to the scheme.

Energy and Climate Change Secretary Edward Davey said: "This is another disappointing announcement from a big energy company. Some of the Big 6 seem not to have noticed that they are no longer alone in the market — there are now fifteen small suppliers, and some really competitive fixed deals out there."

"Today I'm publishing hard figures on the costs energy companies really face in delivering the Energy Company Obligation (ECO), so consumers can see what this scheme is really costing energy companies. These figures — supplied by the energy companies themselves — show that the costs are in line with previous schemes so there should be no need for any increase to consumer bills due to ECO" he added.

These figures show that the costs of ECO so far are very much in line with the Government's own estimates of around £1.3 billion per year, meaning that each household has to pay around £47 on average this year, which the government claims it's in line with the costs of previous schemes and should not result in increases to consumer bills.

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