£66k energy bill for net zero communal heating. More energy madness

Rob examines the challenges surrounding communal heating systems and the implications of the push towards net zero initiatives. Focusing on a case study from Lillington and Longmore Gardens in South Central London, he highlights the council's plan to invest in an eco-friendly heating system that could lead to significant service charge increases for residents.  KEY TAKEAWAYS There are significant issues with communal heating systems, particularly in social housing, which are being exacerbated by the push towards net zero initiatives. Residents of Lillington and Longmore Gardens are facing a projected service charge increase of around £66,000 due to the council's plan to invest in a new eco-friendly heating system, despite existing unresolved maintenance issues. The decision to implement a costly new heating system, rather than simply upgrading the existing gas boilers, raises concerns about the practicality and financial wisdom of such initiatives in the context of social housing. The heating system in question is one of the oldest in Britain, previously utilising waste heat from Battersea Power Station, but now relies on outdated gas boilers, highlighting the need for a more sensible approach to upgrades. BEST MOMENTS "There's been a lot of issues with communal heating and heating projects... councils just not thinking because they're being led down a dark and dangerous path." "The irony being of this system... they’re coming up with this idea of, well, let's put this system in, oh, by the way, it's going to cost X amount." "Residents... have seen their service charges already increased by about 150%. They're claiming that basic repairs remain unresolved." "The easy win here... would be to upgrade the existing gas boilers with new gas boilers. That's the easy solution." "We're being pushed down this area and path that we don't need to be pushed down to." VALUABLE RESOURCES https://www.msn.com/en-gb/money/other/we-re-living-in-squalor-but-our-council-is-trying-to-bill-us-66k-for-net-zero-heating/ar-AA1u0Pw3?ocid=winp2fptaskbar&cvid=76889fd0bbd045a689655b82088512c0&ei=7 https://www.telegraph.co.uk/money/consumer-affairs/8-alternatives-gas-boilers-whether-save-you-money/ GET YOUR PROPERTY DEVELOPMENT FINANCE HERE: https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration SOCIAL MEDIA/CONTACT US https://linktr.ee/thepropertynomadspodcast BOOKS  Property FAQs = https://amzn.to/3MWfcL4   Buy To Let: How To Get Started = https://amzn.to/3genjle   101 Top Property Tips = https://amzn.to/2NxuAQL   uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast