If these upgrades had included all of the estimated 4.4 million homes on the least energy efficient ratings of E to G, and the remainder had been EPC band D homes, all reaching band C, the savings for the UK could have been £4.3bn in 2023, on top of £2.8bn in 2022, for a total of £7.1bn in the gas crisis to-date. [...] Of the £600 total saving in 2022, £510 would have gone to the household, and of the £800 saved in 2023, the household would have seen an almost £615 bill reduction. [...] Renewables also bring down the high wholesale prices for energy by reducing the number of times when the most expensive gas power plants that set the price for many of the other generators in the market. [...] Note that, since the report on the Cost of Not Zero in 2022, some refinements have been made to parts of the methodology, and some input assumptions for the end of 2022 have been replaced with confirmed data for that period. [...] Some results have shifted slightly, but not so as to materially affect the conclusions for 2022 (indeed, the maximum savings in 2022 for a household that had all of the applicable net zero technologies have risen slightly in this new report, serving to reinforce the conclusions of the previous report).
- Pages
- 21
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- United Kingdom
