New LGA analysis suggests poorly insulated homes will leak £12.7 billion of energy over the next two years, with a third of that cost being incurred by the Government under its Energy Price Guarantee.
Homes with an energy performance certificate (EPC) rating of D or lower will have an average of £488 of heat a year escaping out of poorly insulated doors, windows, roofs and walls.
While families in inefficient homes will lose £8.6 billion over the two years of the Energy Price Guarantee, the costs incurred by government could increase if energy prices rise as projected next year.
The most wasteful homes in England are older and more likely to be occupied by older people and those on lower incomes, with more than 60 per cent of over-65s living in England’s least energy-efficient homes.
Owner-occupied and private rented homes are almost twice as likely to be rated EPC D or below than social homes.
The LGA is calling for the Government to renew its partnership with councils to better draught proof, insulate and retrofit all homes and accelerate the shift to renewable energy, as well as give residents energy saving advice.
Cllr David Renard, the LGA’s Environment Spokesperson, said: “Retrofitting more homes is a practical, sustainable and economically responsible solution to keep many people warmer and safer through winters.
“Investment now will save households and taxpayers money further down the line, ease the cost-of-living crisis, reduce the health crisis for people in cold and damp homes, and mean families have added security and flexibility within their budgets.
“Councils are eager to help the Government deliver on this win-win-win agenda as fast as possible.”