Nearly two-thirds of energy consumers are more likely to buy sustainable products and services.
That’s according to a new survey by the professional services organisation EY, which suggests almost 40% of under 35s are ready to pay more for sustainable energy.
The research, which surveyed 2,000 UK energy consumers, also shows a third of energy consumers had stopped using a product or service because it was not sustainable.
In addition, 12% of customers said their primary reason for switching supplier was related to sustainability.
Nearly 42% of the respondents admitted they would like to buy sustainable products and services from an energy supplier, ahead of providers from other sectors such as tech companies and retailers.
The report also suggests 70% of consumers want to use less energy for heating and appliances in their homes in the next five years but don’t always know how to – the lack of information was cited as the key reason for that for nearly 49% of the respondents.
Rob Doepel, EY Energy Leader, UK and Ireland, commented: “The UK government’s £12 billion ‘Ten Point Plan‘ for a green industrial revolution while continuing the UK’s move to low carbon sustainable power production, supporting nuclear, solar and offshore wind, also puts consumers firmly at the heart of the energy debate with announcements such as the banning of gas boilers in new homes from 2023-2025 and ending the sale of new petrol and diesel cars and vans from 2030.
“Energy companies need to catch the attention of consumers by clearly demonstrating an intrinsic commitment to sustainability across all their activities, not just specific products in isolation, or risk losing those customers to more sustainable competitors.”