Since 2008, it has (subject to limited exceptions) been compulsory to supply an energy performance certificate (EPC) for any property, commercial or residential, being let or sold. Most clients will now be familiar with the grading that EPCs confer on a property, an “A” rating being the most energy efficient and a “G” rating the least efficient. It would be fair to say that EPCs have, until recently, had little effect on the property market. However, we are now starting to see some tenants and buyers either threatening to pull out of transactions because the property has a low EPC rating, requiring the landlord or seller to carry out works to improve the energy rating, or seeking to chip the price. As you will see when you read on, we expect this practice to become more widespread over the coming years.