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Research by economists at the University of Warwick found that the average household in Stevenage could see their energy bills rise by £986 per year, even with existing government support in place through the Guarantee of the Energy Price (EPG).
Without the EPG, the average energy bill would rise by up to £1,705, the research suggests.
“The energy crisis is a wide-ranging economic shock that could threaten social and economic stability in the UK and will see families in Stevenage hit hard,” said a spokesman for the researchers.
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“Even households that already consume little energy – which are typically among the poorest – will be hit hard.
“Households in the 10th percentile of the energy consumption distribution are expected to see an increase in energy bills of £579.
“Families with such low energy consumption typically live on a household income of less than £15,000 per year. For these families, this shock, in the context of wider inflationary pressures, can cause a drastic decrease of the real standards of life that can threaten social cohesion and social stability.”
However, the spokesperson added: “We estimate that residents in Stevenage could save at least 27 per cent of energy on an ongoing basis if energy efficiency upgrades were implemented across the building stock,” with a focus on to insulation and boiler upgrade measures.
These upgrades could also see CO2 emissions reduced by 33,000 tonnes per year, the research found.
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