Energy prices are inflated all around the world, and in the UK, the situation is no different, with prices at their highest level since 1988. UK households spend an average of £1600 a year on electricity alone. These numbers are staggering compared to a couple of years ago, and to the majority, it does not keep up with how much they are making or the pay raises they receive or might receive. This blog will investigate European energy bill vs. UK energy bill. How the UK compares to other European countries when it comes to energy spending and what can be done better to help improve the UK’s position. Gas prices have risen everywhere, but why do UK households still pay too much compared to their European counterparts when this issue could have been tackled long ago?
What Can Be Made Better to Help Save On Your Bills?
While many can point their fingers at recent events, with the war in Ukraine and before that, Covid, both of which had a big impact on gas prices, the UK does come on top, beaten only by Latvia, when compared to other European countries in a recent study. This means that there are lessons to learn to be more effective in stabilising the energy sector. The UK has an old energy infrastructure, and prices for infrastructure and maintenance are also high. The UK government has taken steps to help solve the issue, but for these solutions to work, homeowners and private tenants must take advantage of the schemes that are offered to them.
One scheme that has helped thousands of households across the UK is the gas boiler replacement scheme. Designed to fit your home with a new, much more efficient boiler. These newer boilers have helped homeowners cut their bills by as much as 40%, allowing them to be more resilient towards rising energy prices and giving them more financial freedom. Energy companies might also look into installing insulation with the gas boiler, which you might qualify to get for free. Loft insulations and cavity wall insulations are among the most popular as they have the biggest impact in reducing heat loss from homes, helping upgrade the home’s energy efficiency, and driving the UK towards its environmental goals of achieving a carbon-free future.
Studies on European energy bill vs. UK energy bill have found that a UK household can spend £600 more than the average European household. While the UK largely counts on gas, with 85% percent of homes relying on it to keep warm, the real problem lies in them not being able to hold on to heat.
Energy prices are expected to rise further in the UK, with a £33 pound increase on bills expected in the last quarter of 2024. While change is important when trying to achieve a more stable and greener future, it is also crucial to take concrete steps to help secure yourself now. While producing energy from renewable sources is not feasible and easy for everyone, you can still help do your part by making sure you change your current appliances to more efficient ones and upgrading your home’s energy efficiency.
Germany is a good example when showing how quick transitions can make the energy infrastructure more open to market fluctuations, with the war in Ukraine forcing it to change back to coal plants from imported gas supplies at a huge cost, which it had shut down while trying to do their part in cutting down their carbon footprint. While its initial goal was to rely more on renewable energy, it came to the realisation that big transitions have their vulnerabilities.
Are You Eligible for Free Boiler Upgrades?
To know if you are eligible for free home upgrades, you can fill out the form, and one of our team will get back to you. With Home Energy Guide, you are in safe hands, and our team will always do the best to get you and your home what it needs to be safe and warm. The Energy Company Obligation (ECO), now in its fourth stage, offers free upgrades to homeowners whose homes are not energy efficient and who receive benefits, including:
- Universal Credit
- Pension Guarantee Credit
- Income-Related Employment and Support Allowance
- Income-Based Jobseeker’s Allowance
- Pension Credit Saving Credit
- Housing Benefit
- Child Tax Credit
- Working Tax Credit
- Income Support
- Child Benefits
After you check your eligibility, a survey will be done at your property to assess what your home needs to upgrade its energy efficiency. New boilers not only cut down your bills but are easier to use, with more advanced control panels, and come with an extended warranty to help you feel more relaxed and comfortable when it comes to your home’s heating system. Other upgrades can include the installation of radiators and insulation, which also come at no cost to you if you qualify.
Lessons That Can Be Learnt:
The Energy Company obligation has improved in recent years, with laws put down to help shield customers from the volatile energy market. By forcing energy companies to invest more of their profits and lower their dividends, they created more energy providers that can serve their customers better. Europe long had stricter rules that meant that energy companies were able to withstand market shocks better.
While prices have mostly come down since February 2023, the UK still has less energy mix when it comes to how it produces its electricity, compared to other European countries. France, for example, heavily relies on nuclear power to produce electricity, which helped it keep its prices relatively low, and also gave the government more freedom when it came to intervening for its citizens. Homeowners in the UK can also help diversify their energy production by installing renewable sources of energy like an air source heat pump. Air source heat pumps are supported by the ECO4, with grants up to £7000 offered to help homeowners install them. Their lifespan can be more than 20 years, offering security and a cheap way to get your energy for a long time.
Contact us to learn more about how you can install an air source heat pump.
Conclusion
While the European energy bill vs. UK energy bill debate clearly favours Europe, the UK has in recent years improved its position with schemes that have helped UK homeowners become more financially stable while reducing their carbon footprint. The UK is on the road to improving its home energy efficiency and will be able to have the same high standards as the rest of Europe if the government is able to maintain its support and homeowners make sure they get all the help they are offered.
