In our latest survey, we’ve discovered that nearly half (46%) of over 65 year olds are concerned that the recent cold weather could lead to higher energy bills. Of the 2,000 people surveyed, a substantial 61% admitted that they’re likely to cut down on their energy usage in an attempt to reduce their bills as winter starts to set in. What that shows is that our older generation are likely to feel the cold as our as our mild winter gives way to much colder weather.
And unfortunately this doesn’t seem like new news. In speaking to our over 65s we learned that almost a third (31%) of them ration their energy consumption every year. Rising fears at the costs of energy bills is clearly a major concern, with over half of those surveyed suggesting they’d struggle to pay their bills from their income or pension alone. In fact, 22% admit they’d dip into savings or use credit to get through these colder months.
So with a bleak outlook for the coming months, and cold snaps predicted, it’s worrying to see that energy usage is such a concern for our older generation. The elderly, often retired, are more likely to spend longer periods of time at home so it’s unsurprising that their bills may be higher. And it would seem that many of them are already taking smart measures to save money; be it buying thicker curtains, investing in draught excluders or wearing extra layers.
James Padmore, our Head of Energy, says, “When it comes to staying warm in winter, nobody should be left in the cold. It is deeply concerning that, when the temperature drops, so many of the elderly generation are rationing their fuel usage to save money, at the expense of keeping warm.
“There are other ways to reduce energy bills apart from turning off the central heating. Our research shows that 65-79 years olds who switched energy provider save on average £530, but this age group makes up only 9% of switchers.”
So for those who are concerned about their energy bills this winter, it’s a good time to look at switching your energy supplier to ensure you’re getting the best rates. Our Snapt app allows you to quickly compare tariffs on your mobile by simply using the QR code from your latest statement. Comparing energy prices allows you to find a tariff that suits you and could save you a lot of money this winter.
And if you’re not tech-savvy, fear not. You can still save money by switching energy suppliers by phone or by post. These savings could not only reduce your energy bills in the winter months, but all year round too.