At phased intervals throughout 2008 vendors and/or owners of all commercial properties will be required to obtain an Energy Performance Certificate (EPC) on completion of construction/refurbishment works or at the time of sale, lease or re-lease. EPCs typically assess a building’s energy efficiency in terms of its fabric and installed systems. At the end of the process the building will receive a certificate rating its performance.
The EPC is renewable every 10 years (or after a building has been modified). The penalty in England and Wales for failing to provide an EPC when required is 12.5% of the rateable value of the property with a minimum fine of GBP£500 and a maximum of GBP£5,000. Having been fined an EPC will still be required.