Three quarters of Brits are struggling to pay their energy bills, new research has found.
Of these households, one in six simply cannot afford to heat their homes,while just over a quarter (27%) have cut back on using their central heating and are keeping warm in other ways.
Gas and electricity bills rocketed by 47% and 28% respectively last year, but many households had not felt the full effect of these hikes until the high consumption winter months.
According to research from moneysupermarket.com, Brits typically use around 40% of their annual energy consumption over winter.
Suppliers waiting to pass on last summer's cut
Given that Britain is currently enduring its coldest winter for a decade, many households are struggling to meet the sharp spike in their energy bills.
Wholesale energy prices have actually been plummeting since last summer, with the cost of a barrel of crude oil now costing two thirds less than during the peak. However, suppliers have so far refused to pass these savings on to their customers, choosing to wait until the end of the profitable winter season instead.
British Gas has confirmed it will reduce its gas tariff by 10% towards the end of the month, and the other five major suppliers are expected to announce similar cuts around the same time.
Tips to cut your energy bills
If you’re looking to minimise the impact of energy bills on your budget, there are a few simple steps you can take.
Switching energy suppliers is a good place to start. Given that suppliers tend to announce price changes at a similar time, it may be worth waiting until all suppliers have done so before searching for the best deal in your area.
You should also ensure you switch to a supplier’s online tariff (rather than the standard tariff) and pay by direct debit.
Insulation is another handy cost saving initiative. The cost of fitting loft or wall insulation has not increased dramatically in recent years, but the sky-rocketing cost of energy means the potential savings have.
