Millions of households in the UK continue to grapple with the enduring energy price crisis, with a recent study introducing a novel approach to pinpoint those most vulnerable to its effects.
Led by researchers from the University of Sheffield, the UK Energy Research Centre, and various other institutions, the study aims to assist policymakers in deploying targeted interventions and support.
The study underscores the deepening impact of the energy crisis, as nearly one-third of households now struggle with energy affordability, exacerbating health and wellbeing disparities.
The research, drawing upon data from a representative sample of households between 2016 and 2022, reveals a surge in households struggling to manage high energy prices.
Termed Low Energy Price Resilience, this measure offers insights into indicators such as employment status, housing tenure, inability to save and energy prepayment methods, highlighting households at risk of energy-related deprivation and financial instability.
Dr. Andrew Burlinson from the University of Sheffield emphasises the significance of this measure in informing policy-making and mitigating adverse economic, health and wellbeing consequences.
Professor Giulietti from Nottingham University Business School, said: “The UK Government has already attempted to mitigate the impact of the crisis with measures such as the universal energy price guarantee, which has allowed for speed of action in the intervention.
“However this was a temporary measure for most consumers and potentially failed to support the most vulnerable.
“As price volatility and uncertainty persist, policy interventions in the energy market will need to be better targeted to avoid further detriment to the most vulnerable households.
“This could include measures targeted at improving supply resilience as well as demand, more specifically individual household resilience in the longer-term.”
