Rising energy costs are taking a toll on UK households, with one-in-seven parents (14%) forced to skip childcare or nursery payments to meet high energy bills.
That’s according to research from Uswitch, which suggests nearly a fifth of households (18%) have struggled to pay crucial bills or mortgage payments in the past 12 months due to escalating energy expenses.
On average, households unable to make payments due to energy costs were unable to cover more than four bills.
As anticipation builds for a projected 5% increase in the energy price cap, set to be announced by Ofgem on Thursday, concerns over winter heating expenses are on the rise.
According to the survey, almost a quarter of households (24%) fear having to lower their heating this winter to allocate funds for food, while 10% anticipate having to turn it off entirely.
Nearly one-in-six (15%) expect to cut spending on food to afford heating.
The impact of high energy costs has already led to financial sacrifices, with one in five households (18%) selling possessions for additional cash.
As winter approaches, cutbacks on restaurant dining (41%), fast food (40%), streaming subscriptions (26%) and charitable contributions (24%) are expected.
