UK households living in 'band D homes' face £299 hike in energy bills
UK households could be hit with a £299 energy bill rise with over 65s bearing the brunt. Residents dwelling in energy-deficient properties could be facing a staggering £299 rise in bills this year, soaring to a collective £3.8 billion nationwide.
Two thirds of individuals over 65 are currently living in inefficient homes, bearing the brunt of the crisis as they shell out an extra £256 annually on energy bills at today's rates, compared with the younger crowd under 30. Cebr examined the energy efficiency of houses rated below C on the EPC scale and the analysis uncovered that those over 65 spend a significant more of their income on energy bills than any other demographic.
Kingfisher's chief executive Thierry Garnier said: “The Government’s goal to boost efficiency in five million homes by 2030 is a strong start. While there is no silver bullet, we believe three key policies would accelerate this effort.
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“First, a focused initiative by winter 2025 to insulate the over five million uninsulated lofts across the UK. Longer term, we must empower and incentivise consumers with improved grants for low-income households and easy, consumer-focused solutions for those who are more able to pay.
“Finally, robust support for trade careers is critical to building a skilled workforce capable of delivering technical upgrades at scale." The study found that older generations are the worst impacted by energy inefficiency, with 60% of over 65s currently living in inefficient properties, compared to 43% of 16-34-year-olds.
This means they are set to spend £256 more on annualised energy bills this winter compared to under 30s. The study also revealed that over 65s are spending the highest proportion of their money on energy bills of any age group.
The group wants households to improve the EPC-rating scheme and then introduce a specific, transparently tracked measure for the number of energy efficiency installations and home improvements to get to EPC band C, to get UK homes to maximum efficiency as soon as possible.