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#AceNewsRoom With ‘Kindness & Wisdom’ Aug.29, 2022 @acenewsservices
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#AceNewsDesk – Green Britain: The entire social care sector faces collapse in the wake of soaring energy bills with the cost of running care homes rising tenfold, experts warned according to iNews, 26 August 2022
The chief executive of Care England said providers faced a staggering 683 per cent increase in energy costs during the past 12 months, with bills expected to rise again early next year. For gas and electricity, the costs were £660 per bed, per year, this time last year; this week, care providers have to pay an astonishing £5,166.
Professor Martin Green said soaring energy prices represented an additional cost of more than £2bn per year across the social care sector, putting the industry at “very severe risk”. The figure is based on the October 2022 market rates, and with 454,933 Care Quality Commission registered beds. Care homes are particularly at risk as they are not subject to the price cap, which is for consumers, and will not be in a position to reduce energy use over winter.
On Friday, Ofgem announced the energy price cap for consumers will rise to £3,549 a year – a rise of 80 per cent. Latest estimates suggest it will reach £6,616 in April. With company tariffs uncapped, some businesses are already facing a price increase of more than 350 per cent.
Professor Green said: “The energy crisis comes at a time when adult social care is already facing the most challenging circumstances in its history. Current packages of Government support ignore the social care sector entirely. Care providers, despite paying the same VAT and Green Levy rates on energy bills as domestic settings, are not subject to the domestic price cap and are not set to benefit from the £400 energy rebate.
“While these measures are incredibly important to protect public health and support struggling households across the country, parity must be introduced in the treatment of the most vulnerable in our communities. Without immediate and targeted support from Government, this energy crisis poses a very severe risk to the sustainability of care services across the country.”
With research from the Centre for Health and the Public Interest (CHPI) estimating the sector’s total pre-pandemic profits before tax, rent payments, directors’ remuneration and repayments on loans at £1.5bn per year, and the rise in energy prices will eradicate profit margins generated across the sector, driving many providers into insolvency and eliminating scope for investment.
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