Despite Liz Truss having laid out a set of measures to tackle the ongoing energy crisis research suggests that as many as one in three renters would still consider cancelling their energy bill payments.
The measures announced by the Prime Minister will see energy prices capped at £2,500 for two years and a £400 payout to households this year, effectively capping prices at £2,100.
However, campaigns such as Don’tPayUK are continuing to protest the high price of energy bills.
Research from Mashroom found that 37% of renters can currently afford their energy bills, but noted that they were concerned about the cost when considering future price hikes.
Just over 40% also voiced their concern and said they were unlikely to afford the future increases.
While 18% of renters currently cannot afford their energy bills, and October’s rise is likely to push them further into fuel poverty.
Alongside a rise in energy bills, tenants have also seen an increase in their rental repayments over the past 12 months.
Some 45% of those surveyed said they had seen an increase but could still afford their repayments.
But only 14% had seen an increase in their rent and were struggling to afford the payments.
In terms of energy bill payments, 34% told Mashroom they would consider cancelling their direct debit payments for energy bills.
But 47% said they would be unlikely to cancel their energy bill payments as there could be risks involved in doing so.
The research found that renters aged 25-34 are most likely to cancel their payments for their energy bills.
Adam Male, chief revenue officer at Mashroom, said: “The Government’s response to the rising cost of energy is likely to be a welcome relief to many households in the UK, who were naturally panicked at the £3549/yr price cap increase for October which was looming ever closer.
“We needed to see a swift response from the new Prime Minister in order to bring in support for the millions of homeowners and renters who are already feeling the squeeze from other aspects of the cost of living crisis.
“Even though the average price of energy is capped at £2500, alongside the original Government support outlined earlier in the year, I think we’re likely to see households still struggle, particularly as we go into the winter season when we use more energy to heat our homes.
“The price cap was £1277/yr last winter, so we’re seeing a 96% increase this year even with the proposed price cap in place, so we’ll still be paying more for our energy.
“The Government needs to continue to look at ways in which to support the most vulnerable and lower income households, so we don’t have the same issue on an annual basis and more people slip into fuel poverty in the colder months.
