1 in 5 people ‘don’t know about energy price cap increase’

Many households don’t know that energy prices are set to go up this week.

Ofgem’s energy price cap is going up on 1 April by 6.4%.

That means a household using a typical amount of gas and electricity will see their bills go up by about £111 a year.

But according to new research from YouGov, 19% of Brits aren’t aware of the imminent increase in the energy price cap.

This figure rises to 51% among 18 to 24-year-olds, and 22% among 25 to 49-year-olds.

That’s despite the same poll identifying energy prices as one of the main cost-of-living pressures in the last few years.

Nearly four in ten (39%) people said they’ve at least occasionally struggled to afford their energy bills in recent times.

Cost-of-living pressures ‘have affected most people’

More than half (56%) of people in the UK say they’ve been affected by cost-of-living pressures, the YouGov study revealed.

This includes four in ten (40%) who’ve already had to make cuts to their usual spending and expect to have to do so again.

Meanwhile, more than one in five (21%) said that while they’ve managed to maintain their usual spending levels so far, they think they’ll have to make cuts soon.

And while one in three (34%) people describe themselves as relatively financially comfortable, four in ten (42%) say that while they can cover essentials, they have little left over to pay for luxuries.

What to do if you’re struggling with energy bills

With the energy price cap going up yet again, keeping up with ever-increasing bills can be a struggle.

So if you’re finding it hard, speak to your supplier, as they might be able to offer help such as grants.

It’s also well worth checking to see what other support you might be eligible for.

Use our benefits calculator or get in touch to find out what you could claim.

And don’t forget to try our handy budget planner, so you can see where you could save money in your household and free up cash for vital expenses.