OVO responds to BEIS extra £1bn funding for insulation announcement

To be attributed to Raman Bhatia, CEO of OVO – the UK’s third largest energy supplier:

“We welcome the additional £1bn funding to insulate the UK’s least energy efficient homes and target the most vulnerable. We’ve already transformed thousands of homes by working with Local Authorities and stand ready to insulate even more. As a country, we need a vaccination-style intervention to rollout energy efficiency measures and tackle the energy crisis.

“Now, more than ever, it’s critical that we work together to insulate as many homes as we can, so that families can stay warmer and cut their energy bills.” 

On background – OVO Energy Solutions:

• OVO is currently deploying funding, using the proposed ECO4 mechanism and established ECO supply chain, to target eligible residents with energy efficiency measures. Working with local authorities and housing associations to give people on lower incomes greener homes
• Since 2020 OVO Energy Solutions has improved more than 2,700 homes’ energy efficiency across the UK.  We have installed air source heat pumps to nearly 400 homes, and in some cases helped to reduce energy bills by up to 50%. 
• Through 2021, as global gas prices started to rise, OVO Energy Solutions insulated over 1,500 homes. All of these were vulnerable or fuel poor households with approximately 50% being privately owned.
• In June 2022, OVO Energy Solutions announced it was partnering with Cornwall Council to complete whole-house retrofit for 400 poorly insulated homes under the Sustainable Warmth programme.