A recent EY (Ernst & Young) survey of 2000 consumers has revealed that almost a third are worried about being able to pay their energy bills, compared to just 18 per cent who said they had concerns over their mortgage repayments.
Despite this, however, some 22 per cent of respondents claim they would be happy to pay an average £5 more per month to help combat climate change, with 27 per cent of those surveyed saying they were willing to pay an average of £6 per more per month to fund renewable energy, which is a hugely encouraging sign that renewables and energy efficiency are gaining pace in the UK consumers’ hearts.
Overall, 48 per cent of respondents were willing to pay more if they were clear what the funding was supporting, including receiving a better service or funding insulation measures and energy infrastructure.
Tony Ward, head of Power & Utilities at EY, said: “Despite recent price reductions, it remains the case that consumers are still more concerned about affording their home energy costs than other key expenses such as mortgages. [Yet] our survey reveals a perhaps surprising degree of willingness to pay more for our energy. But only when the purpose is clear there is a strong link to investment for the future health of our energy system.”
From the response, the greatest worriers are those aged 55 – 37 per cent were most concerned over energy payments, while just 20 per cent of 25-34 year olds shared this worry.
Perhaps you could help your elderly customers allay their fears by making sure their heating systems are working efficiently and in tip-top condition for the colder months. Book them in for a service now well in advance and show them how to maximise their system, while keeping bills to a minimum!