EnergyLink Tell UK Households to Insulate Following Increased Profits of 'Big Six' Energy Companies

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Following a new report highlighting record profit margins for energy suppliers, British households have been urged to fight back against rising prices by applying for home insulation grants

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As new figures reveal the biggest profit margins ever recorded by Britain’s energy suppliers, consumers have been told to fight back by insulating their homes.

Industry regulator Ofgem today announced that the profit margin for energy companies has risen to £125 per customer per year – up from just £15 in June.

The figures, which are based on the usage of dual-fuel customers at current energy prices, follow months of price hikes from all of the UK’s ‘big six’ energy suppliers.

They also come weeks after the Government criticised energy suppliers for lagging behind on their commitment to provide insulation to UK consumers as part of the CERT initiative.

With energy price hikes showing no sign of slowing, EnergyLink has called on British households to take control of their bills by applying for free Loft Insulation and Cavity Wall Insulation.

Insulation can help to significantly cut household energy bills by reducing heat loss from the home. Insulation grants are available to cover the full cost or between 40% and 70% of the cost of Cavity Wall and Loft Insulation.

It is estimated that around a quarter of heat lost from the home escapes through the roof, if Loft Insulation is not present. At the same time, around 35% of heat generated in homes without Cavity Wall Insulation escapes through the walls.

Homes with professionally fitted Loft Insulation and Cavity Wall Insulation can save up to £265 per year, with this figure likely to increase as energy prices continue to rise.

Currently, to receive a 100% grant to cover the cost of Cavity Wall and Loft Insulation, homeowners must be aged 70 or above, or claim certain benefits, tax credits or allowances.

However, consumers that don’t match this criteria can still apply for a grant covering up to 70% of the cost of the Cavity Wall or Loft Insulation. From next year, grants will be replaced by a new loan-based system as part of the Green Deal scheme so consumers must act quickly.

For more information on Cavity Wall Insulation and Loft Insulation visit: Free Insulation

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Kristian Headland
kris.headland@energylink.org.uk
0191 286 6936
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