Monarchy could save nearly £50,000 a year if it switched energy suppliers for Buckingham Palace argues Gocompare

29th January 2014

Comparison site Gocompare.com has calculated that the British monarchy could save nearly £50,000 of taxpayers’ money if they switched energy providers for Buckingham Palace alone.

The Public Accounts Committee, reporting on the state of the Queen’s finances, found that the Royal household now has only £1 million surplus in its accounts, the lowest level in history.

Among other things, the report said that the Queen’s “antiquated” boilers are more than 60 years old.

Margaret Hodge, the Labour chair of the Committee, said: “We got the impression that they just haven’t tried to make greater savings. Here we are, all in it together, but they are failing to seek better value for the Queen.”

Gocompare.com has delved into the Queen’s household bills and worked out ways she could save by switching.

Buckingham Palace has 775 rooms and 78 bathrooms*. The Public Accounts Committee report, released this week states that during last year the Palace’s electricity consumption increased by 3% and its gas consumption increased by 14%. The electricity bill for Buckingham Palace and the Royal Mews was £312,000 and the gas bill was £462,000. Last year, a thermal image of Buckingham Palace revealed that it was one of London’s worst performing landmarks when it comes to energy efficiency.**

Gocompare.com energy experts have estimated that if the Royal household switched energy providers for Buckingham Palace alone they could save more than £48,000*** a year.

Jeremy Cryer, Gocompare.com’s energy spokesperson, said: “This story just goes to show that even the grandest home in the world could save on energy bills by making a simple switch to a better tariff. We are having a bit of fun here, but the amount of money we are talking about is significant and can’t be ignored. That teamed with the thermal image of the Palace just shows that with some simple maintenance there could be some major savings for the Royal Household.”

*According to the official website of the British Monarchy.

**B&Q Energy Saving took a thermal image of Buckingham Palace in October 2013.http://media.diy.com/2013/10/25/feeling-draughty-maam/

***Based on customers who switched energy supplier for both gas and electricity (dual fuel) using the Energylinx powered Gocompare.com platforms during the 1st October – 31st December 2013. At least 10% of people who switched energy supplier for both gas & electricity with Gocompare.com saved £437.33 or more. Buckingham Palace is around 110 times bigger than the average UK home (based on an average UK home having around 7 rooms) – 110 X £437.33 = £48,106.30.

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