Over the past two years we have produced an annual Parish Finance Update and intend to do the same early next year! However, with the energy price shock that we are all experiencing, we wanted to give you an interim update on the possible impact of energy cost increases to the Parish.
Our fixed-rate contract came to an end in autumn 2022. But we began working with independent Energy Brokers a year in advance
in order to negotiate a new deal. However, these negotiations were severely impacted by the Russian invasion of Ukraine which, as we all know, created turmoil in the energy market. Despite the brokers obtaining the best available deal for us, in the current circumstances, we, along with every household, business and charity organisation in the UK, are facing an extremely large increase in our energy bills. In our case, we are facing a threefold increase in cost per year.
We are still awaiting details on how the Government’s Energy Price Guarantee Programme may help to bring relief, at least for a six-month period. However, this will only partially offset the enormous increase we find ourselves having to fund, which will have a substantially negative impact on our Parish Year End Financial Accounts.
Whilst we are looking at every way we can to reduce energy usage and the possibility of installing solar panels on the roof to tackle this problem, the increased costs cannot be covered by the current level of Parish Income. By the time of the next annual update, we will have a better idea of the full effect of the energy price rise after the effect of Government relief, and how it affects the overall Parish finances.
It is for this reason that we have held off putting the Church heating on.
Thank you to all who support the life of the Parish financially and through so many different ways!
Wishing you all a blessed Advent and time of preparation and Hope as we await the coming of our Saviour, Emmanuel, God-with-Us.