The UK’s least energy-efficient homes could see their annual bills jump by £558 following the raising of the energy price cap, data from Rightmove shows.
Households in an energy performance certificate homes rated at G, the lowest standard, will see their bills lift by over £550 a year, according to the property website’s monthly energy bills tracker.
This contrasts with energy performance certificate homes rated at A, which will see bills rise by £56 a year.
The study comes as the price cap, set by the energy regulator Ofgem, will rise 10% in October, meaning that homes that use an average amount of gas and electricity will pay £1,717 a year, a rise of £149.
The level of the cap affects the price paid for gas and electricity used in 27 million homes across England, Wales and Scotland.
A recent Rightmove survey of over 14,000 respondents found that 72% of people would be willing to change how and when they use energy, if it meant they could access cheaper energy rates at different times of the day.
It found that renters, at 76%, were more likely than homeowners, at 70%, to say that they would change their energy habits, perhaps because they are less likely to be able to make other energy-efficient adaptations to the home, which could result in lower bills.
Rightmove property expert Tim Bannister says: “The rising price of energy in recent years means that renters and homeowners are likely having to closely consider their total monthly outgoings when choosing their next home.
“We know that lower bills are one of the biggest motivators for people to go greener, so we expect over time people will increasingly seek out more energy efficient properties in order to keep bills down over the long-term.
“Our research suggests that if something like a dynamic price cap, where energy is cheaper at less popular times of day, was to be introduced, the majority would welcome it if it meant lower bills.”
Propertymark chief executive Nathan Emerson adds: “Homes in the UK are among the least energy efficient in Europe and this is unlikely to change without the UK government providing landlords and homeowners with incentives and access to sustained funding.
“Not only will efficiency targets for the private rented sector be unachievable, ultimately impacting tenants, but in order to limit homeowners’ energy bills and fundamentally reduce emissions across the property sector, future rules and requirements must be realistic and attainable with appropriate infrastructure in place.”
Rightmove conducted a Go Greener survey, which collated 14,091 responses between 13 and 20 May.
