This winter has been harsh and cold; with snow in March and the bills rising, we’re in unprecedented situations. With the cost of living and energy crises challenging us, we believe it is important to share information to assist our hosts with tips, tricks and information to empower their short let properties.
The Census report published in February 2023 found that Gas prices had risen an astonishing 129.4%, while Electricity reportedly rose 66.7% in the 12 months leading up to January 2023. 6 of 10 adults are reportedly not using heating in their own homes.
Gov.com - census report
While in 2019, the government announced a price cap, June brings an end to the cap, meaning there will be further increases in energy usage.
What is the Energy Price Cap?
The Energy Price Cap was introduced in January 2019 by Ofgem to limit the cost of each gas and electricity unit consumers use. Additionally, it sets a maximum standing charge amount. It applies to the standard or default tariffs charged by energy companies.
What is the Energy Price Guarantee?
On 1st October 2022, the UK government introduced the Energy Price Guarantee to help with rising energy costs. It is a temporary and an additional measure to protect consumers from the significant rises in the price of wholesale gas. The Energy Price Guarantee is meant to run until April 2024. It applies to all households in Great Britain. Like the price cap, it limits the amount energy suppliers can charge per unit of energy and means you will pay less than you would have done with the energy price cap alone. This may change in the future if the price cap drops below the Energy Price Guarantee level.
We understand at Pass The Keys that energy usage on your property must be a worry. We want to support our hosts the best we can as a business to empower you to have the best experience for yourself and your guests.
We want the best for your property, including maintaining your energy usage. If you have a smart thermostat, here are a few things you can do to protect your energy;
Set a schedule for your heating
Leaving your heating on low all day to save money has been proven to be a myth; one of the best ways to combat this is to set a schedule. We recommend this setting:
- 07:00-10:00 - Heating On
- 10:00-13:00 - Heating Off
- 13:00-16:00 - Heating On
- 16:00-18:00 - Heating Off
- 18:00-22:00 - Heating On
- 22:00-07:00 - Heating Off
Having your property surveyed is recommended as then you can see your property's energy rating and see how to make further your property energy efficient. For example, upgrading your insulation or windows.
But Don’t worry; it’s not all doom and gloom; help is at hand. We’ve got 100's of properties with smart tech, maintenance teams on local books and further information on helping make your property energy efficient. If you would like more details, explore some of the guidelines we have created for our Hosts you can view our Host Resources section of the website.