More Than 2.55 Million UK Households Suffer Fuel Poverty
- 4-million turn heating off in Winter due to extortionate bills
- Three million tenants – live in damp, cold and mouldy properties
- 2 million renters believe they do not have the right to switch energy providers
A nationally representative research report delves into the behaviours of Brits running their homes in Winter, with a special focus on the impact of energy consumption and bill management on tenants and homeowners. The study found that a significant proportion of rental Britain severely disenfranchised around their energy usage, this research launches succeeding a rise in fuel bills that has pushed 2.55 million UK households into fuel poverty. The research has been commissioned by auto-switching service The Labrador.
With many tenants paying more than half their salary in rents, Generation Rent has incurred a £30bn increase in the rent bill this last decade, money that the UK public should rather be paying to feed families and heat homes across the winter months and beyond.
In response to an acutely prevalent issue that effects the vast majority of the UK’s rental market, The Labrador has teamed up with FCC Paragon to provide auto-switching services to hundreds of thousands of homes through FCC’s vast network of real estate and letting agents. Not only will Labrador scour the market for cheaper deals for tenants but will continue to monitor the market regularly so tenants across the nation never overpay for their electricity and gas ever again. The partnership enables UK Households to save up to £537 on their energy, hassle-free.
With such a saturated rental market and a struggling bricks and mortar sector, tenants are often exposed to inflated prices to the tune of millions in financial loss across the nation. Today’s announcement finally ensures that this market can have easy access to genuinely cheap deals that deliver real value to tenants.
- 42% of Brits have stated that since moving into their property, they have NOT accurately provided their supplier with accurate details and a meter reading
- 22% – six million people would not know if they were overpaying for their energy usage
- 17% of Brits – 4 million people – have had to turn off the heating during the colder months because they know that they will not be able to afford the bill
- 11% of renter’s past and present -2 million people – have inherited their energy supplier from previous tenants and continue to use this service
- 10% of citizens – nearly three million tenants – have lived in damp, cold and mouldy properties as they will not turn on their heating during the winter months due to it being too expensive
- Nearly 2 million people have stated that, as they rent, they believe they do not have the ability or right to switch energy providers
- 6% of the nation’s rental and homeowner community have been charged an exit fee when switching utility providers
- 5% of tenants have overpaid on their utility bills due to taking on previous tenants’ outstanding bills
- 5% of those in rented accommodation -1.2 million people – have only paid for their energy bills via estimates
- 3% of citizens have paid the previous tenants’ energy bill as they did not know that they could dispute it
- 3% state that their current utility bills are still being sent to them in a previous tenant’s name
- 3% of the UK population has noted that their landlord and/or estate agent was not transparent with them about the average cost of the utility bills when taking on their rented accommodation
- Nearly a million people across the nation have stated that their landlord has refused their attempts to switch energy suppliers to a cheaper tariff as they feel it would be more work for them
- Brits overpay, on average £65.90 on their utility bills due to taking on bills from previous tenants
The importance of dispelling energy misconceptions
There is a clear indication that UK homeowners and renters, during the coldest months, are hesitant to turn on their heating due to an ingrained fear over the cost of energy bills. This often means that citizens both overpay for energy use whilst also experiencing uncomfortable living environments due to the aforementioned cost of energy bills.
The Labrador is an independent company backed by Hambro Perks Ltd., DMGT, and over 30 private and institutional investors. It leverages smart technology to disrupt the energy switching market by automating and making accurate, energy switching for residential consumers. The Labrador uses a gateway device (“the Labrador Retriever”) to collect consumption data from household smart meters – in addition to offering the most accurate service for those who do not have a smart meter – and processes this data on its proprietary platform to personalise energy switches, removing the hassle from switching and accurately keeping its customers on cheap energy tariffs.
On the other hand and established in 1996, FCC Paragon provides tenant referencing and associated services to letting agent and landlords across the country. FCC Paragon is one of the most long-established and well-known brands in the lettings market. As a result of their industry knowledge and expertise they expanded their offerings to include relevant and helpful services to tenants during the moving process. They continue to strive to diversify and adapt in the ever-challenging lettings market. Their guiding principles are to provide unrivalled customer service, unbeatable value for money and the widest range of relevant products and services to all of their clients. By focusing on these goals and being independently owned they are proud to be a business that always has their customers best interests at heart.
Open Business Council offers resources, Trade Finance, business advice, SME Finance and a forum and directory for businesses! Improve your business and use the best digital, financial and funding tools to grow ROI – return on investment and ROA – return on attention!