Nearly 84% of Brits doubt energy prices will return to pre-2021 levels

By Finance News On Nov 22, 2024

British households are increasingly resigned to high energy prices, with 84% of respondents in a recent survey saying they do not believe energy bills will return to pre-2021 levels for years to come.

The survey conducted by tado°among 1,449 UK residents reflects growing concern among consumers about rising costs, as industry experts also confirm that these elevated prices are the “new normal.”

The timing of the survey coincides with the announcement of the UK’s energy price cap for January 2024, which has risen by 1.2% to £1,738 for a typical household.

This figure is more than 30% higher than the cap during winter 2021-22 and highlights the long term impact of geopolitical and economic pressures, including the effects of the war in Ukraine.

Nearly 67% of the respondents have reported heightened awareness and concern about energy bills compared to five years ago.