Survey Finds Many Britons Struggling to Pay High Energy Bills

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30th August 2012 16:26 - Utilities

Market research by comparison website Findenergysavings.co.uk has discovered that the weak economy has left Britons struggling to meet the unprecedented price hikes levied by the ‘Big Six’ energy suppliers last year.

While traditionally the elderly have been highlighted as the demographic most susceptible to being able to afford rising energy costs, the survey found it is actually those aged 18-29 who struggle the most to pay energy bills, with many even having to choose between food and heating.

Almost one in five of the 21-29 year olds who took part in the study admitted to having to borrow money to pay their energy bills. Of that group, 10% used pay day loans to cover the additional cost, which is a worrying statistic given these types of loans tend to have exorbitant interest rates of up to 4,000%.

In addition to a further 20% of 30-39 year-olds claiming they use their credit cards to meet high energy fees, more than 10% of all respondents said they’ve had to choose between buying food or covering their heating or electricity bills. This figure rose to over 18% of 21-29s and more than one in four 30-39s.

When asked whether they would pay even higher fees for renewable energy sources, many cash-strapped Britons at 47.8% answered in the negative, compared to 20% who said they would foot the bill for going Green.

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