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Highlights
- Brits have started cutting back on their energy usage, suggests a latest survey.
- Brits having smart meters at homes have saved more on their energy bills as compared to those who don’t, as per Smart Energy GB.
- UK households have been warned that energy bills may escalate further over coming months.
Brits have started taking action to reduce their energy usage, suggests a recent survey. According to a study carried out by Smart Energy GB, over a quarter (28%) of Brits have said that this is the first summer during which they have taken steps for cutting back their energy usage. Before this, people haven’t been paying much attention to their energy bills over the summer months.
The research has shown that people have been switching off lights when not in use, turning off unused devices, and removing phone chargers from the mains when not being used. On the basis of these findings, it can be asserted that Brits having smart meters at home have saved more on their energy bills as compared to those who don’t, mainly because of their changed habits and behaviors.
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Recently, UK households have been warned that the already high energy bills may escalate even further over the coming months. According to specialists at Cornwall Insight, the UK energy bills may potentially go up from the present record level of £1,971 to £3,245 in October. By the start of 2023, the bills could further increase to £3,364. However, £400 would be reduced from the energy bills from October under the UK Government’s support package to tackle the ongoing cost-of-living crisis.
As per the latest ONS update, UK inflation level hit a fresh 40-year high of 9.4% in June. ONS claims that the soaring fuel and food prices have been the primary contributors to the rising CPI figures. As the electricity bills touch roofs, UK investors can keep an eye on the following energy stocks.
Diversified Energy Company plc (LON: DEC)
The shares of Diversified Energy Company plc were witnessing a dip of 0.70% at 8:28 AM (GMT+1) on Thursday and were trading at GBX 113.50. The FTSE 250 firm has a market cap of £972.65 million at present and is offering a huge annual dividend yield of 12.7%. As of 21 July, the shares of the independent oil and gas producer, have given positive returns of 16.50% and 9.02% to its shareholders on annual and YTD basis, respectively. But its EPS stands in the negative territory, at -0.03%.
BP plc (LON: BP.)
The shares of the oil and gas supermajor, BP plc, were witnessing gains of 0.43% at 8:31 AM (GMT+1) on Thursday and were trading at GBX 389.70. The FTSE 100 firm has a market cap of £74,089.99 million at present and is offering an annual dividend yield of 4.9%. As of 21 July, BP has given positive returns of 38.83% and 17.62% to its shareholders on annual and YTD basis, respectively. Its EPS also stands in the positive territory, at 0.38.
Shell plc (LON:SHEL)
The shares of the oil and gas producing giant, Shell plc, were experiencing losses of 0.61% at 8:35 AM (GMT+1) on Thursday and were trading at GBX 2,038.00. The FTSE 100 firm has a market cap of £150,628.35 million at present and is offering an annual dividend yield of 4.1%. As of 21 July, Shell has given positive returns of 51.43% and 21.79% to its shareholders on annual and YTD basis, respectively. Its EPS also stands in the positive territory, at 2.59.
