Recent data from the ONS indicates continued volatility in prices on energy updates, impacting operational costs for hospitality businesses:
Gas Prices: The System Average Price (SAP) of gas increased by 3% to 4.173 pence per kilowatt hour (p/kWh) in the week to 19 January 2025, compared to the previous week. This marks a 70% increase from the same period in 2024.
Electricity Prices: Conversely, the System Price of electricity decreased by 44% to 10.665 p/kWh in the same week. Despite this drop, prices remain 32% higher than the equivalent week in 2024.
Moreover, in March 2025, there was a notable increase in the issuance of Energy Performance Building Certificates across England and Wales:
- New dwellings saw a 37% rise compared to the previous month.
- Existing dwellings experienced a 12% increase over the same period.
- Year-on-year, this translates to an 8% uptick for new dwellings and a 20% rise for existing ones.
The uptick in EPCs and fluctuating energy costs indicates a growing emphasis on proactive energy management. Hospitality operators should consider assessing their energy performance, as improved efficiency can lead to cost savings and align with evolving regulatory standards.
Action Steps on Energy Update for Hospitality
Conduct an Energy Audit: Identify areas where energy efficiency can be improved.
Upgrade Infrastructure: Consider investing in energy-efficient appliances and systems.
Monitor Policy Changes: Stay updated on government policies that may affect energy costs.
