UK National Grid launches 50 mln energy support fund | Whuff News

LONDON, Nov 1 (Reuters) – Britain’s National Grid (NG.L) said on Tuesday it had launched a 50 million pound ($58 million) fund to provide financial support to customers facing rising energy costs over the next two winters.

The fund will target charities that provide immediate, emergency financial support to households using pre-pay energy meters, charities that support electricity concessions and charities that provide counseling services to households that need help with electricity bills, payments and debts.

Many people in Britain are already struggling to cope with the cost of living crisis, with rising energy bills piling up on top of high food prices and inflation.

As overall gas and electricity prices have risen over the past year, the negative impact on housing and business debt has become more pronounced, pushing millions into fuel poverty.

“We are under no illusions that this winter will be very, very difficult for many people and we are committed to playing our part to help ease the financial burden that households will face,” said John Pettigrew, chief executive of National Grid. .

The Fuel Bank Foundation, which provides emergency cash support to households with pre-paid meters who are at risk of living without energy, will receive £10 million from the fund.

Citizens Advice and Affordable Heating Solutions, which provide new home insulation, free of charge to households that do not qualify for government plans, will also receive £10 million each, National Grid said.

($1 = 0.8688 pounds)

Narrated by Nina Chestney; Edited by Kirsten Donovan

Our standards: The Thomson Reuters Trust Principles.

Nina Chestney

Thomson Reuters

Oversees and coordinates the EMEA energy, gas, LNG, coal and carbon markets and has 20 years of experience in journalism. He writes about those markets and climate change, climate science, energy transition and renewable energy and investing.

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