The Energy Company Obligation (ECO) began in 2013 and was set up by the British Government and energy companies to reduce carbon emissions and address fuel poverty.
So far there have been three policies (ECO, ECO2 and ECO3) which primarily support low income households to heat their homes under the ‘Home Heating Cost Reduction Obligation (HHCRO).
With this scheme, measures such as loft and cavity wall insulation as well as improving or installing heating and boiler systems are undertaken. It has been pretty successful too considering by quarter 4 of 2020, around 114,100 ‘measures’ were installed – which was 22% more than in quarter 3 of the same year.
Cumulatively, this has reduced household bills for those supported by £719 million.
Which Energy Companies Participate in ECO?
Until March 2022 (when rules may change), energy companies with more than 150,000 customers that supply around 300GWh of electricity and 700GWh of gas to UK domestic properties are legally enforced to partake in ECO.
These standards have actually reduced since 2018 meaning more large companies now have to participate in ECO. In 2018, companies that supplied 500GWh (200GWh more than today) and 1400GWh for gas (700GWh more than present) had to engage in the scheme.
Examples of Energy Companies in ECO:
- British Gas
- E.ON Energy
- EDF Energy
- Scottish Power
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To read the Q4 2020 report on ECO read HERE
Photo Credit: Oxford Martin