The majority of Austrian households save energy. However, this is less from an environmental point of view and more from cost considerations.
There is certainly potential to save energy without sacrificing quality of life, according to the majority of those surveyed by the energy price monitor from consultancy EY.
For consumers, the household is central: 59 percent only switch on the dishwasher when it is full. And 54 reduce the lighting; 52 percent rely on LED lighting. But there are also savings when washing laundry: 52 percent use air drying instead of a dryer. And almost half of those surveyed (48 percent) wash at 40 degrees or less. Slightly fewer people – namely 44 percent – save on heating temperatures. Only five percent indicate in the study that they have not saved on energy. Only six percent think they cannot save anything in the household. About a quarter are convinced that at least 30 percent savings can be achieved.
Older consumers are more concerned
Older consumers are increasingly making an effort to get their electricity consumption under control. In the 50 to 65 age group, 87 percent saves. However, the percentage is not much lower among 18 to 49 year olds: 85 percent, the consultancy and audit company announced in a press release.
For approximately 59 percent, cost reduction is the most important reason. About 35 percent cited both money savings and environmental protection considerations. And according to the EY Energy Price Monitor, environmental concerns are at the forefront of approximately seven percent.
Many other areas of life are affected
One in two people said in the survey that energy prices would also affect other areas of life. 72 percent eat out less often, 65 percent save on holidays and 55 percent spend less on clothing and shoes. About 44 percent of respondents are concerned about whether they will be able to pay their energy bills in the future. And 18 percent are no longer able to pay their bills on time.
What is the point of another electricity supplier?
Switching electricity suppliers plays only a minor role in efforts to reduce electricity bills: around 63 percent remain loyal to their supplier and have not changed or considered doing so in the past 12 months. About one in five (21 percent) thought about switching, but didn’t and only 16 percent actually chose a different provider.
EY attributes the low switching rate to a lack of information or uncertainty about savings. In addition, customers are satisfied with their provider and skeptical about alternative providers.
The price recovery is postponed
The fact that electricity costs have developed differently is not only due to the savings that households have made, says Christina Khinast-Sittenthaler, head of the energy sector at EY Austria. “While the extremely high prices at the height of the energy crisis in the autumn of 2022 only reached households much later, the opposite effect is now occurring: the slow price recovery only reaches end customers with a delay.”
The survey was conducted by Marketagent between August 12 and 19, 2024 via an online access panel. For this purpose, 1000 people – representative of the Austrian population – were interviewed and 38 questions were asked.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
