Worried about future energy costs? You aren’t alone

As a community-focused credit union, Gateway is committed to helping our members manage their finances and plan. With energy costs remaining a top priority for households across the UK, we’ve looked at recent insights from the Energy Saving Trust to see what people really think about their energy use—and how you can take control.

Here is a summary of the current public sentiment and practical steps you can take to manage your home energy more effectively.

1. Future Financial Concerns

Recent data highlights a significant trend: 91% of people are concerned about steep rises in energy prices over the next 10 to 20 years. While price caps offer some short-term stability, average bills remain roughly £500 higher than they were just a few years ago. For many of our members, this long-term uncertainty makes energy efficiency not just an environmental choice, but a vital financial one.

2. The Move Toward Modern Heating

There is a growing awareness that the way we heat our homes needs to change. According to the Energy Saving Trust, 88% of people recognize that traditional heating systems must evolve to meet national "net zero" targets. Moving away from fossil fuels (like gas and oil) is increasingly seen as a way to both reduce carbon footprints and protect against volatile global fuel prices.

3. The "Heat Pump" Hesitation

While low-carbon technology is the future, many households are still hesitant. Currently, nearly half of UK residents feel they are unlikely to install a heat pump.

The primary barriers are:

• Upfront Cost: Installation can be expensive.
• Running Costs: Because electricity is currently more expensive per unit than gas, the monthly savings aren't always immediate unless paired with other technologies like solar panels.

Gateway Tip: If you are considering these larger upgrades, remember to check for government support like the Boiler Upgrade Scheme, which provides grants to help cover initial costs.

4. Solar Power: Savings vs. Scams

Solar panels remain a popular topic, with 71% of people citing "lower energy bills" as their main motivation for going solar. However, trust remains an issue. Over 60% of people expressed concerns about the reliability of installers and the risk of scams.

The Energy Saving Trust emphasizes the importance of seeking independent, impartial advice before committing to a system. A well-installed solar array can significantly reduce your reliance on the grid, especially when combined with a battery storage system.

5. We Already Know the Basics (But Are We Doing Them?)

Interestingly, 96% of people say they are already aware of the most effective ways to reduce energy—such as turning down the thermostat, using LED bulbs, or draught-proofing.

However, awareness often fluctuates with the seasons. Research shows that people think about energy far less during the summer months. As we move into the colder seasons, the Energy Saving Trust recommends "set-and-forget" measures—like lowering your boiler's flow temperature or installing thermostatic radiator valves—which save money without requiring constant effort.

How Gateway Can Help

At Gateway Credit Union, we understand that the biggest barrier to a more efficient home is often the initial cost. Whether it’s a small loan for draught-proofing and insulation or a larger investment in renewable energy, we are here to support our members in making their homes more affordable to run.

By taking proactive steps now, you can help shield your household from future price spikes and build a more sustainable financial future.

For more detailed advice on energy-saving measures, visit the Energy Saving Trust website.