Saving where you can

Our households have energy costs in their sights

(Bild: Jiri Hera - stock.adobe.com)

The majority of Austrian households save energy. However, this is less for the sake of the environment and more for cost reasons.

According to the majority of respondents to the Energy Price Monitor conducted by the consulting firm EY, there is potential to save energy without compromising on quality of life.

The household is central to this for consumers: 59% only switch on the dishwasher when it is full. And 54 reduce lighting - with 52 percent opting for LED lights. Consumers are also saving on laundry, with 52% opting for air drying instead of tumble dryers. And just under half of those surveyed (48%) wash at 40 degrees or less. Slightly fewer people - 44 percent - save on the heating temperature. Only five percent stated in the survey that they do not save energy. Only six percent believe that they cannot save anything in the household. Around a quarter are convinced that at least 30 percent could be saved.

(Bild: LiettaOraz - stock.adobe.com)

Older consumers make more effort
Older consumers make slightly more effort to get a grip on their electricity consumption. In the 50 to 65 age group, 87 percent are saving. Among 18 to 49-year-olds, however, the figure is not much lower at 85 percent, the consulting and auditing company announced in a press release.

For around 59 percent, cost reduction is the main reason. Around 35 percent cited both saving money and environmental protection. And according to the EY Energy Price Monitor, environmental considerations are the main reason for around seven percent.

While the extremely high prices at the peak of the energy crisis in autumn 2022 only reached households much later, the opposite effect is now occurring: the slow recovery in prices is only reaching end customers with a delay.

Christina Khinast-Sittenthaler

Many other areas of life are affected
In the survey, one in two people stated that energy prices would also affect other areas of life. For example, 72% eat out less often, 65% save on vacations and 55% spend less on clothing and shoes. Around 44% of respondents are worried about whether they will be able to pay their energy bills in the future. And 18 percent are already unable to pay their bills on time.

What are the benefits of changing electricity provider?
Changing electricity provider only plays a minor role in efforts to reduce electricity bills: around 63% remain loyal to their provider and have not changed or considered changing in the past twelve months. Around one in five (21%) have thought about switching but have not done so and only 16% have actually chosen a different provider.

(Bild: Proxima Studio - stock.adobe.com)

EY attributes the low switching rate to a lack of information or uncertainty about savings. Furthermore, customers are satisfied with their provider and skeptical about alternative providers.

Price recovery comes with a time lag
The fact that electricity costs have developed differently is not solely due to the respective savings made by households, said Christina Khinast-Sittenthaler, Head of the Energy Sector at EY Austria. "While the extremely high prices at the peak of the energy crisis in autumn 2022 only reached households much later, the opposite effect is now occurring: the slow recovery in prices is only reaching end customers with a delay."

The survey was conducted by Marketagent between August 12 and 19, 2024 via an online access panel. A representative sample of the Austrian population - 1,000 people - were surveyed and asked 38 questions.