With headlines proclaiming Britons were likely to pay 80% more for household energy costs this autumn, the Government has taken swift action with its proposed energy plan, the Energy Price Guarantee. The team at Waterfords Estate Agents in Camberley, Chobham, Fleet and Yateley have summarised some key highlights of the plan, as well as actions homeowners and renters can take to control their costs.
What’s covered by the Energy Price Guarantee? And what’s not?
The bill announced by Prime Minister Liz Truss is intended to cap and control the rate of increase, in the face of shortages and supply risks related to the war in Ukraine and the global energy supply chain. The proposed plan addresses the rates that energy providers can charge but does not cap the cost of utility bills per se. As summarised by the BBC and other news sources:
What are the rules for renters?
Your landlord may charge an ‘all inclusive’ rent, where a fixed cost for energy usage is included in your rental charges, in which case:
How does the price cap work?
In all cases, the Energy Price Guarantee will replace the existing energy cap, which sets the highest amount suppliers are allowed to charge per energy unit. These energy units are displayed as kilowatt hours (kWh) on utility bills.
The estimated ‘typical’ household bill of £2,500 a year assumes 12,000 kWh of gas used per year, and 2,900 kWh of electricity per year. Note that there really is no ‘typical’ user or rate of use. The actual bill will reflect size of home, number of energy users in the property, rates of use and so on. Big energy users can expect to pay more than £2,500, and people who use less energy will pay less.
Consult the www.gov.uk link below for sample energy costs based on property size/usage
How Can Homeowners and Renters “Go Green” and Keep Their Costs Low?
Even with the rate caps, the cost of energy is going up. Homeowners and renters alike can take simple actions to reduce energy usage and further control their energy costs. Here are a few suggestions:
Major appliances are major energy users
Turn off the lights and the laptop
Water Down
Don’t Overheat
For more information:
https://www.bbc.com/news/business-58090533
All information deemed reliable but not guaranteed.
For more property news and updates and a more detailed overview of the market Camberley, Chobham, Fleet and Yateley, get in touch with Waterfords. We are your trusted local estate agent.
Camberley: 01276 66566
Chobham: 01276 858589
Fleet: 01252 623333
Yateley: 01252 870222
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