Energy Bills ‘Biggest Household Fear’ In Europe

A recent survey has shown that energy bills are now the biggest worry for homeowners in Europe, more so than their mortgage repayments.

The study was conducted by Europe’s largest DIY outlet Kingfisher, who asked 17,000 households in nine European countries.

Kingfisher Boss Sir Ian Cheshire said: “Rising energy prices are a very real fear – right across Europe, a bigger concern even than worries about paying the rent or mortgage.”

The survey showed that there has been a staggering rise in European households deciding to make energy efficiency a top priority, with 31% planning to make changes to their energy efficiency, up from just 4% in 2012.

Energy efficient installations will be a major part of homeowners’ plans in managing their energy efficiency. Edward P. Carlson anticipate that as more and more people consider energy efficiency when purchasing new properties, demand for Energy Performance Certificates will be on the increase.

The results follow a statement released by energy regulator OFGEM promising a move to but tougher controls on electricity pricing for the next eight years, starting from 2015.

According to OFGEM, the average household will see a £12 reduction in costs after price controls were agreed upon by seven major British energy companies.

The proposals will also see the companies spending £17 billion to upgrade and maintain Britain’s local electricity network.

Jonathan Reynolds, Labour’s shadow energy and climate change minister said Ofgem’s forecasts for the industry for the next 12 months was the latest example of an energy market that was not working.

He said: “Britain’s hard-pressed bill payers have seen their energy bills rocket, despite falling wholesale costs.”

But in contrast to OFGEM’s criticisms of rising energy prices, representatives of British Gas have made recent appearances on news channels predicting a reduction of £90 to the average household bill in 2014, thanks to mild weather and the freeze on energy prices.

Here are some tips to tackle soaring energy costs in the UK!

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