The soaring cost of energy bills is still weighing heavily on home owners’ minds, according to the latest research.
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Figures from a survey conducted by consumer champion Which? revealed that 83% of those questioned were concerned about the escalating cost of gas and electricity, with this figure climbing to 87% for those in retirement.
While 68% argued that they had implemented energy saving improvements in their home in an attempt to reduce their energy costs, almost the same percentage argued that cost was one of the key barriers to them taking these measures.
This comes despite the fact that the government has introduced the Green Deal to help consumers with the cost of energy savings improvements, ranging from double-glazing to installing solar panels.
Further figures from a survey conducted by the Rexel Foundation and OpinionWay found that almost two-thirds of consumers would vote for a government that could help them tackle their gas and electricity costs.
A recent supplier analysis has suggested that energy costs could be set to surpass mortgage payments, if green energy measures drive up the cost of gas and electricity.
The estimates from First Utility point to the fact that in the last five years energy bills have climbed by an average annual figure of 8.5% to £1,420. If this growth rate continues, the firm argues energy costs will outstrip annual mortgage repayments in some parts of the UK within 12 years.
The figures from the analysis suggest that energy bills could surpass mortgage payments in 2025 in Stoke-on-Trent, 2029 in Liverpool and 2030 in Birmingham.
First Utility CEO Ian McCaig said also argued that this scenario could be brought about sooner, in the “next five to ten years”, if consumers pay the price for the government’s green energy investment programme.