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

14th October 2011

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 said the profit margin for energy firms had 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 being inflicted on customers from all of the UK’s ‘big six’ firms.

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, energy industry body 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 reduce household energy bills by reducing heat loss from the home, while 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 an average of £265 per year, with this figure likely to increase as energy prices continue to rise.

Currently, to receive a full grant to cover the cost of cavity wall and and loft insulation, homeowners must be age 70 or above, or claim certain benefits from the government.

However consumers that don’t match those criteria can still apply for a grant covering up to 70% of the cost of the cavity wall or loft insulation, although from next year grants will be replaced by a new loan-based system as part of the Green Deal scheme.

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