AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Summary
- The EY survey summarises data collected from around 2,000 energy consumers across the UK.
- Around 75 per cent of the customers are eager to shift to sustainable local products in a bid to support the domestic economy and environment.
Global consulting firm EY in a survey came across startling facts regarding the changing consumption pattern in the UK’s energy sector. According to the survey findings, more customers are factoring sustainability while choosing energy-related products or services. Notably, more than 60 per cent of consumers would like to choose sustainable options.
The survey summarised data collected from around 2,000 energy consumers across the UK and highlighted that 75 per cent of energy consumers are eager to shift to sustainable local products in a bid to support the domestic economy and environment.
Also read: Future of UK Energy suppliers as the furlough scheme ends, Focus on Centrica
It was inferred from the survey that around 40 per cent of consumers with less than 35 years of age are willing to pay a premium for products and services that are sustainable.
Usually, consumers shift from one product or service to another due to service quality or network issues. In a drastic change, the survey revealed that a significant amount of the population could switch to other product or service due to the sustainability issue.
Copyright © 2021 Kalkine Media Pty Ltd.
Simply offering green tariffs or incentives might not be enough to retain consumers in the long run. The awareness with reference to sustainability has been picking up steam, and the energy companies now need to make a comprehensive declaration regarding their green credentials. In simple terms, providing green tariffs might not be sufficient to compete in the market.
The economic development across the world was brought to its knees by the coronavirus pandemic, lockdowns and travel bans. The nation recorded several deaths due to the awful virus. Prime Minister Boris Johnson and several lobbies of environmental activists encouraged businesses to accelerate their efforts towards sustainable development and reducing the overall carbon footprint.
What lies ahead for UK Energy companies?
The UK energy companies must factor sustainability while devising their product or service and find ways of demonstrating the same to attract customers. Optimising the energy utilisation for residential and commercial spaces is on the to-do list of the British government for the approaching decade. The UK government aims to replace gas boilers by electric heat pumps before 2030. The government, energy companies, and consumers collectively need to pull down the barriers towards a greener future.
