News

The Next Return To Office Saviour? Massive Home Energy Bills

Office owners could be a beneficiary of the huge rise in energy bills being faced by British consumers this winter.

The average City of London office worker would spend less commuting into work and using their employer’s heat than heating their own home, calculations from Bloomberg using data from Uswitch found.

The average cost of heating a home could hit £175 a week this winter, as rising gas prices push up energy costs.

Those commuting via tube to the office could save about £15 a week, Bloomberg calculated. Those commuting via bus could save £35 a week, while those cycling, running or walking to work could save about £50 a week.

Workers have so far steadfastly declined to come back to the office in anything like the same numbers as before the pandemic. A survey of 50,000 UK office workers undertaken in June and July by consultancy Advanced Work Associates found that people were coming back an average of 1.4 days a week, or 29% of the time. Typical occupancy was more than four days a week before the pandemic.

Even when companies tried to implement a policy of mandatory attendance for three days a week, staff were coming in an average of two days a week, AWA found.

In a time of high inflation, especially energy prices, warmth could well be an office amenity.

“People are going to be really struggling to heat their own homes and they are going to look for warmth in other places,” National Energy Action Policy Officer Matt Copeland told Bloomberg.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's London Newsletters
Related Stories

Lone Star Seeks 58% Uplift In Under 3 Years With £175M UK Mall Sale

Why Top-Secret Facilities Are Permeating Greater D.C.'s Office Market

DivcoWest Sells Glendale Office Building For $70M

Hines And Rialto Close Office Credit Fund At $1.1B

Rig Collapse At Citadel HQ Site Sends 4 To Hospital

Northern Virginia Office Tower Sells For Double Its 2024 Price

Battersea Power Station Reveals Plans To Double Development Again

Oxford Properties' U.S. Investment Head On Why It's Buying Office Again — And Where

Fertility Provider Opens Clinic At 1900 Lawrence Office Tower: The Denver Deal Sheet

Office Revenues Are Failing To Keep Pace With Expenses

Security Tech Firm Plans Loudoun HQ Move: The D.C. Deal Sheet

Stephen Ross Expands Palm Beach Empire With Massive Boca Raton Campus