Rising Energy Costs - What To Do
Prime Minister Liz Truss has recently announced a new ‘Energy Price Guarantee’ which supersedes the October price cap.
This is all very well, but what does it mean? In July 2022, the average housing energy bill was up over 100% on July 2021. On the 1st of October we will see on average an increase of 20% on electricity and 50% on gas.
What can you to lower your energy consumption and therefore monthly bills?
The answer is insulate your property
Jess Ralston, senior analyst at ECIU, said to The Guardian earlier: “These stark differences between highly insulated and poorly insulated homes show the real-world impacts insulation could have in time to dent exorbitant bills this winter.
Poorly insulated homes will have to pay almost £1,000 more than others on their energy bills this winter, according to research by the Energy and Climate Intelligence Unit (ECIU).
The analysis found that homes rated band F on the energy performance certificate (EPC) system are likely to have a gas bill £968 higher than a home rated EPC band C.
Those that are rated band D will have to pay £420 more for their gas compared with the higher rating.
Mike Thornton, chief executive of Energy Saving Trust, said: “The scale of the emergency measures announced today serves to further highlight the depth and breadth of the energy crisis. We welcome the resolve to take immediate action to reduce costs and increase energy security for both the short and long term, whilst remaining committed to net zero carbon emissions by 2050.
“We also still need to see greater and more urgent investment in the roll out of energy efficiency measures across UK homes”.