You probably won't be aware unless you work in the industry, but a major change is happening (or if you read this after 15 February 2023, has happened) to EPC fuel costs.
From 15 February, background data which calculates the cost of fuel is being modified to make the prices reflect far more accurately the current levels.
What This Means for EPCs
To many, you may be forgiven for thinking this change will directly affect the EPC certificate result. However this is not entirely correct. The energy price increase will essentially only update the estimated energy use and potential savings information on an EPC certificate.
This means we won't be seeing a direct impact on the actual A - G rating of an EPC survey, rather the associated running costs or savings that could be identified should recommended measures be implemented. So if you had a new EPC certificate last week and then did a second survey in a week's time, the rating itself would be the same, the only difference would be the estimated running costs and savings levels.
Why is This Change Happening?
The change has come about after Elmhurst Energy, which is the UK's largest accreditation body and to which Valerien Property Services is a member of, approached the government to request the prices be amended to reflect the current situation.
A variety of factors are considered during an energy performance certificate survey including the types of heating system and boiler, existing energy measures such as loft insulation and the types of windows. The software used to calculate the rating, which is industry-wide, considers these and background data when coming up with the overall rating and the estimated running costs and improvements.
This price change only directly affects the latter and have not be updated for a while, which is why this change is coming in. It is expected that fuel price levels which are used in the energy rating part of the survey - which is what helps produce the A - G rating - will be updated in the not too distant future, but these are currently remaining at the existing levels.
What are EPCs?
Energy Performance Certificates are an overall view of the energy efficiency of a property. They can only be carried out by an accredited EPC assessor, and are valid for 10 years although they can be renewed at any time. An EPC is a legal requirement when selling a property or letting/renting one out.
They rate the property from A to G with A being the most efficient. The certificate will provide recommendations on what energy measures can be installed to help increase the energy efficiency of a property and the estimated cost savings. The recommendations and the projected energy rating increase are conducive so one may depend on the other being installed first (such as a dual rate electric meter and storage heaters for example).
They are recommendations, not a requirement, and the landlord/owner is under no obligation to make any changes or improvements. Most properties in the UK are rated as a D.
If you need an EPC survey, Valerien Property Services offer EPC/energy performance assessor services on the Isle of Wight and surrounding south coast areas. Just use the contact us page to get in touch or email info@valerien.co.uk.