UK Money News
11th April 2008
Extra cash pledged by energy companies
The UK's six largest fuel companies have agreed to increase funding for the social assistance programmes.
Under a deal agreed by the companies and the government, the provision for families deemed to be living in fuel poverty will increase by £225 million over the next three years.
The condition of fuel poverty is defined as when a household spends ten per cent or more of its collective income on paying energy bills.
It is estimated that up to 100,000 households are set to benefit from the increased funding.
Business secretary John Hutton, who brokered the deal, said: "Thanks to the cooperation of our energy companies the amount of money being spent on social programmes to help the poorest heat their homes is now set to treble.
"This is a significant boost to the billions already spent by government and the energy companies, and means we can now get this vital extra support to the people who really need it in time for the coldest months this coming winter."
News of the deal comes after energy companies have come in for criticism after hiking gas and electricity tariffs by an average of 15 per cent.
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