Thread by @enfinnEU

The two thirds of households living in leaky homes face bills £1,000 higher than those in energy efficient homes when energy prices rise again in October to an average bill of more than £3,500. 🧵

#CostOfLivingCrisis #EnergyCrisis #FuelPovertyCrisis 1/n

With successive price cap increases, we could be looking at a £1,500 inefficiency penalty by April of next year if price cap predictions for £5,000 energy bills materialise. 2/n

Collectively in England alone, we face an increase in annual bills of £54 billion, based on expected price cap increase in October, compared with October 2021.

Inefficient homes are set to face £39 billion of the increase.

65% of households get 72% of the increase in costs. 3/n

With further rises, were we to maintain typical levels of energy use, we could be looking at £118 billion annual energy expenditure in England, with inefficient homes bearing the brunt. 4/n

Here's how it pans out across different Energy Performance Certificate ratings - a measure of home energy running costs per square metre per year.

It's staggering.

Never mind further rises next year, and how long we might face prices like this. 5/n

Of course, people will not be able to afford to use energy like they used to. The poorest 10% of households would spend 60% of their income on energy bills from October.

The dynamics of energy demand are going to be upended, leading to uncharted territory of suffering. 6/n

And here's a thread on the logic of knock-on effects that massively reduced energy demand would have: … 7/n

A package of increased support for energy bills is needed NOW.

But we can't spend our way out.

The only path to resilience is through more investment: in #EnergyEfficiency, efficient electrification of heat, backed by cheap #renewables, supported by government, done fairly. 8/8