Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will make it his policy to exempt first-time buyers from energy loan repayments, where they buy their property after the £200 loan is applied to bills in October 2022.

This question was answered on 21st February 2022
The policy will provide a significant reduction to bills this year whilst gas prices are at historic highs. All domestic electricity customers in Great Britain will receive a £200 reduction in their electricity costs from this October. This will be delivered via energy suppliers and will be clearly identifiable as a line item on electricity bills. All domestic energy consumers will pay a charge in future years.

We expect households will pay this back from 2023 – when energy prices are expected to be lower - through an increase to standing charges on their bills of around £40 per annum over five years.

There will be cases where changes in people’s personal circumstances mean they may not directly be the recipient of the reduction, but still pay charges in future bills, or vice versa. This is not a loan to either suppliers or households.

This approach is fiscally responsible while also helping customers manage the unprecedented increase in energy bills by spreading the increased costs of global prices over time.