NEWS

Energy bills rising seven times faster than household incomes

18 May 2012

The price of energy bills in the UK have risen seven times faster than the average household’s income in the last eight years, research published this week has found.

The research, commissioned by price comparison website USwitch.com, highlighted that the average household income has increased by 20% in the last eight years. This pales in comparison to the 140% that energy bills have shot up by in the same time.

UK households are now spending an average of £1,252 per year on their energy bills, which equates to 3.2% of disposable income. This is double the 1.6% of disposable income that households were spending on energy bills in 2004, when the average yearly cost was £522.

The research also found that the cost of energy is now the top household worry for Britons (90%), even more so than the cost of food (77%) and mortgage payments (42%). Perhaps unsurprisingly, a third of customers polled in the research thought that household energy is unaffordable in the UK.

Rising energy bills are dramatically reducing the amount of disposable income for UK households and there are few signs of this changing. Only this week Centrica released an Interim Management statement that warned of energy price rises, which would add £50 onto the average household’s energy bills this year.

However, households needn’t suffer. There is support on hand to tackle rising energy bills in the form of Free Insulation Grants, which are currently available to all UK homeowners.

Director of consumer policy at USwitch.com, Ann Robinson, commented:

"The fact is that consumers can control how much they spend on energy by making their homes more energy-efficient", and that "Those who are on a low income or benefits could even benefit from free insulation."

A household with Cavity Wall and Loft Insulation will better retain heat and can save up to £310 per year on energy bills, helping to guard against the cost of increasing energy bills.

For a limited time only, there are also 100% FREE Insulation Grants available in almost all of the UK to cover the full cost of having Cavity Wall and/or Loft Insulation professionally installed. However, those interested are urged to act fast to claim the 100% FREE Grants while they are still available.

Anyone aged 70 or above, or in receipt of a qualifying benefit, in any part of the UK, will also qualify for a 100% FREE Insulation Grant. All other homeowners and private tenants are still guaranteed to receive a Grant for up to 70% of the cost.

To find out if you qualify for a 100% Free Cavity Wall Insulation and/or Loft Insulation Grant, to help tackle rising energy costs, simply Apply Online by completing our short online form.


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