WEBINAR - Energy Cost and Demand Implications from the Electrification of Homes

The UK housing industry faces several energy and carbon emission challenges, particularly as the country aims to meet its net-zero emissions target by 2050. Whilst electrification is essential for decarbonizing the residential sector, overcoming these energy cost challenges that this brings requires coordinated policy support, technological improvements, and innovative financing mechanisms to ensure that both upfront investments and long-term operating costs are manageable for new home builders and homeowners.

Whilst heat pumps are much more efficient their installation costs are significantly higher than gas boilers and currently there is a running cost disparity with electricity per unit being more expensive than gas. In addition, increased electrification leads to higher overall electricity demand, which will stress aging grid infrastructure. To safely and reliably meet these new loads, utilities companies will need to invest in grid modernization and expansion, costs that will be passed on to consumers through higher standing charges.

Octopus Energy is now the UK's largest household energy supplier and in 2024 introduced a new innovative approach with its “Zero Bills” tariff for new homes. This guarantees no a zero utility bill for homeowners and occupiers in new homes that meet Octopus’ specification with the added benefit of reducing grid carbon intensity through demand management.

Nigel Banks, Technical Director at Octopus will present on Zero Bills approach and the requirements for further innovation in grid demand management to reduce grid stress and energy cost for consumers.

There are also major changes coming to Building Regulations and the assessment process for assessing the energy efficiency of homes. Jason Redfearn, Managing Partner at Focus Consultants, will give a summary of these changes including the introduction of the Home Energy Model.

Following the presentations, Jason and Nigel will be joined by ProCon Board member, Peter Conboy who is a Development Director and the Climate Change lead at Igloo Regeneration for the Q and A session.

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