A man was able to reduce his annual energy bill by almost £1,900 when he moved into a new home.
Jan Filiu and his partner swapped their rented two-bedroom apartment for a brand new three-bed duplex at Kingston East in New Malden back in 2022.
Prior to moving into their new home, the pair were paying an average monthly amount of £250 on energy bills.
However, Mr Filiu is now paying £95 a month thanks to their new apartment, which has an energy performance certificate (EPC) B rating, being more energy efficient.
Mr Filiu has been able to make a 'significant saving' by moving to a home with a higher EPC rating
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An EPC is given to home and awards them an energy efficiency rating which is valid for up to 10 years.
On the rating scale, “A” is regarded the most efficient a property can be, while “G” is considered the least efficient.
The Office for National Statistics reports that the average energy efficiency ratings for homes in England and Wales is 68 (EPC D) and 66 (EPC D) out of 100.
Out of all regions, properties in London have the lowest average rating in the whole of the UK, at 60.8 (EPC D).
According to Mr Filiu, moving to a property with a more efficient energy rating was the main factor which helped bring down their costs.
He explained: “The difference between our old flat and our new home in terms of energy efficiency and the cost of our utility bills is huge.
“I’d say on average we’re saving around £1,860 a year compared to our old place, so it’s a significant saving and one of the reasons we wanted to get out of the rental market and buy our own place, and specifically a new build property.”
Mr Filiu added: “Our new home is so well insulated. The windows and walls at our old flat used to get damp from the cold breeze outside but we don’t have to worry about that anymore.”
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Energy bills have been a major concern for households GETTY According to a survey of first-time homebuyers conducted by Fairview New Homes, 88 per cent of people in the UK looking to buy say the cost and/or energy efficiency of their current home is a significant factor in their desire to fast-track their trajectory to homeownership.
NimbleFins reports that the average home with average energy usage in early 2024 will be paying £2,020 a year.
Despite the push for homes to become more efficient, which will in turn slash costs, the deadline for landlords to bring their properties up to a minimum EPC rating of C by 2025 had been extended to 2030.
Some 73 per cent of the UK’s prospective first-time buyers say the fact new build homes are usually more energy efficient than older homes will likely affect their decision about whether to buy a new build property.