Do any of us know how much our energy bills cost?
Thursday, 5 May 2011 3:49 PM
This morning I was sent a press release saying that the vast majority of us Brits have no idea how much energy costs.
In a survey conducted by County Homesearch, less than eight per cent of respondents were able to identify the average annual heating bill of a three-bedroom house. It was a multiple choice question, yet nearly a third overestimated the cost by £300.
When presented with data like this, it's easy to snort derisively at people's lack of awareness in issues that directly affect their lives – and their pockets.
But the other day, when my bank asked how much I spend on bills per month, I was unable to provide even an approximate answer.
I like to think I'm fairly savvy when it comes to managing my finances. Okay, by the end of each month I generally answer my friends' offers of nights out with an Eeyore-esque look and doleful shake of the head, but I know how much things cost and generally keep pretty close tabs on my spending.
However, I live in a shared flat and the council tax, energy and water bills are in my friend's name. He doesn’t present me and my other flatmate with a neat figure at the end of each month, largely because bills are rarely calculated on a monthly basis.
Even when the quarterlies come flooding in, his combination of laidback attitude and slight disorganisation means that he has never once asked me for my share of the bills until at least a couple of weeks after he's been sent them. By that time, he'll owe me a tenner for something and I'll owe him £5 for something else and the total I hand over bears little resemblance to the original figure I would have owed.
Besides that, we've only lived in the flat since November and in that time I've paid sums ranging from £15 to last week's shocker - £130.
So, as you may have surmised, if I were asked how much our household's total annual energy bills were, I would undoubtedly be one of the 92 per cent of people that doesn’t have a clue.
Ben Salisbury, editor of MyFinances.co.uk, says, "One of the main reasons utility companies have such bumper profits is because they rely on the apathy of customers not to analyse their costs.
"Utility bills are notoriously difficult to understand because they have different price structures, use estimated bills, have a wide variety of tariffs and a separate VAT rate."
Given all this, it's hardly surprising that so few of us know what we're paying.
Salisbury explains that the only way of really understanding how much it costs to power and heat your home is to work out exactly how many units of gas and electricity are used in a year.
"Armed with this information, consumers can get an accurate picture of what will be the best deal for them – and potentially save hundreds of pounds every year."
When it's put like that, my lack of awareness seems rather silly. Maybe I'll make it my aim to get into the elite eight per cent who actually know how much their bills are – even if the task does put that Eeyore-ish look back on my face.
Ele Cooper
Want to be the first to know when we break a story? Follow @AboutProperty on Twitter and subscribe to our free weekly newsletter.
-
Tags:
- energy efficiency ,
- household bills ,
- money
