Britain’s ministers have reportedly been warned that the UK may sink into a severe energy crisis within a year if immediate actions are not taken to fix leaky homes and the demand for gas is significantly lowered.

As per the latest research, Britain ranks among the worst countries in Europe for household energy efficiency, highlighting a pressing need to minimize heat waste. Experts have warned that while Liz Truss's £100 billion-plus package ($116.7 billion) to cap power bills has offered the government time, similar costly and unsustainable initiatives will be required unless substantial strategies are designed to improve homes as well as reduce demand.

Truss's energy package, which is expected to establish her premiership, is already receiving pressure for its lack of clarity. There is also a major concern that for the additional assistance, the poorest families will be targeted, while business groups will raise concerns about the short-term assistance handed out to them in the following weeks.

While Truss mentioned fracking as well as the North Sea fossil fuels expansion as ways to increase energy supply, she has been warned that this will not reduce prices while negatively affecting Britain's commitment to addressing the climate crisis. Instead, Truss is being urged to recreate effective policies of countries like Germany and other nations to boost the energy efficiency of UK homes and thus reduce demand.

According to Institute for Government (IfG) research, British households, and companies are likely to face high electricity bills in the winter of 2023, or beyond that.

According to experts, a substantial energy efficiency program can have a considerable impact in less than a year. IfG cited Germany as a success story, where low-interest loans, grants, free expert advice, and tax rebates were all used to ensure a great outcome.

The costs of Truss' plan will be unveiled in a financial statement issued by the latest chancellor, Kwasi Kwarteng, later this month.

Source credit: https://www.theguardian.com/money/2022/sep/11/britain-insulate-homes-energy-crisis-2023-heat-loss-houses-subsidising-bills