Hotter Weather, Higher Bills: How Brits Ready Themselves for Summer Energy Hikes
- Some 83% of Brits expect their energy bills to rise this summer. While 81% express deep concern, 27% admit angst about how they will cover the costs.
- Anticipating bills going through the roof, 34% started saving months in advance. Still further, 31% plan to borrow money for their energy costs.
- That said, 87% have already taken action to reduce their energy use. 71% adjusted their thermostat, 54% decided to keep their blinds closed, and 17% have switched to cold showers.
- Seeking summer relief, 20% are open to relocating, while 91% want the Government to step in.
As the sun peeks through its famously grey skies, Britain is finally switching off its central heating. Yet, it doesn’t mean a break from sky-high energy bills.
After three consecutive increases to the energy price cap, prices will remain high until at least June 30. Cornwall Insight expects a fall in July, but there’s no guarantee it will last.
Just as many households sweat over ways to cover summer energy charges, Gamblizard got a take of 2,000 Brits on how to foot the bill.
Summer bill blues: Is Britain bracing for a costly summer?
While many experts have predicted a considerable drop in the energy price cap in July, most Brits aren’t so sure of it. After seeing their charges creep up quarter to quarter, 83% expect their energy bills to soar with the heat.
Summer may bring longer days and warmer weather, but for many Brits, it’s also turning up the heat on household budgets. Staying warm may be free, but keeping cool comes at a cost. Some alarming 81% say they’re concerned about summer energy costs, and 27% admit extreme angst about what summer may bring.
Sweat, save, survive: How are households covering their energy costs?
Many Brits have been setting money aside for the summer. Yet not to jet off to a tropical beach, but to keep the fan running as temperatures soar. Having barely finished paying their winter bills, 34% of Brits say they’ve begun saving towards their summer bills.
Wages stagnate, living costs climb. Many Brits are making tough choices to keep the lights on, from scrapping summer getaways to skipping everyday luxuries.
Some 40% are buying fewer clothes, 38% are reining back on entertainment, and 31% are eating out less. Most disturbingly, 31% are scaling back their spending on groceries and other essentials. Power gets priority over a full fridge.
For those who haven’t had the luxury of saving ahead, the forecast isn’t just hot, it’s scorching financially. Desperate times call for desperate measures: 31% admit they will need to borrow money to cover their energy expenses this summer.
Turning down the heat: Seeking relief from high energy costs
While the Government already limits prices to prevent energy companies from outright overcharging, the public wants more. Some 91% of Brits want lawmakers to step in further and place additional caps on energy costs. To relieve, rather than regulate, the heat on consumers.
What is now clear is that Brits are taking energy saving into their own hands. 87% have made changes to curb their summer energy costs: 71% have adjusted the thermostat, and 54% plan to keep the curtains drawn and blinds down to keep the sun out.
Others are getting far more creative: 19% of the surveyed stay off stoves and ovens during meal prep, 17% opt for cold showers, and 19% are clocking extra hours at the office. There, the air conditioning and electricity are free of charge.
When it comes to cutting energy costs, some Brits are willing to go the extra mile, quite literally. Some 20% say they’re open to packing their bags and relocating if it means more manageable bills. While 8% are already open to the idea, 12% say they’re on the fence. And with no end to the soaring prices in sight, energy-related relocations could become far more common.
Brits are cutting back on essentials to cool their spending. From cold showers to summer getaways spent in the office, households are doing what it takes to cope. But at what cost to their health and well-being?
