Accelerating the transition from fossil fuels and securing energy supplies commended the government's swift action to address the gas supply crisis following the Russian invasion of Ukraine with its British Energy Security Strategy, but warns there are "significant gaps" that need addressing.

The EAC report says that to deliver genuine energy security, the strategy should have placed far greater emphasis on energy saving measures. It adds that boosting energy efficiency efforts is the quickest way to reduce reliance on imports, protect households, and cut climate-changing emissions.

It criticises the government for missing a "crucial window of opportunity during the warmer months" to accelerate energy efficiency measures that could permanently protect UK citizens from the impact of volatile oil and gas prices. It goes on to say that the number of energy efficiency installations in 2022 compares poorly with figures from government-backed energy efficiency schemes eight to ten years ago.

To tackle the scale of the problem, the EAC report says that the Chancellor should allocate a proportion of the Energy Profits Levy revenue to bringing forward  energy efficiency funding now to fulfil thegovernment’s manifesto commitment to invest £9 billion in energy efficiency. A national ‘war effort’ on energy saving and efficiency is also required. It adds that upgrading homes to Energy Performance Certificate C or above must be treated as a national priority to enhance the UK’s energy security, reduce bills, and cut emissions from the country’s leaky and draughty building stock.

Dr Richard Hauxwell-Baldwin, Research and Campaigns Manager at MCS Charitable Foundation, who provided evidence to the inquiry, said, “Ministers’ failure to address the intolerable condition of Britain’s heat-leaking homes has cost households thousands of pounds, and misery for millions of people. While the government has now announced some much-needed funding for homeowners to insulate their houses, this falls well short of the billions of pounds of investment required to make every home fit for the future.