One in 10 people have missed an energy bill payment in 2022, according to The Mortgage Lender.

The lender also found that 16% of adults said they would not be able to afford their energy bill if it rose by up to 10%.

And 14% admitted they’d consider missing a future energy bill payment to cope with rising costs, despite it having significant ramifications to their credit scores or future loans.

Impact of missing payments

Not only can missed payments impact consumers’ current health and safety, but they could also have long-lasting repercussions on their credit scores.

Peter Beaumont, CEO of The Mortgage Lender, said: “There is no denying that we are in difficult times with the cost of living as high as it currently is. For many, the sheer cost of energy and utility bills, or even the thought of them rising, is unnerving. Indeed, some have already had to miss their regular payments in order to get by financially.

“What is perhaps more concerning though, is the number of people who would consider missing them in order to cope with rising costs. This could have a significant impact on an individual’s credit score, and ultimately their ability to access loans such as a mortgage, whether a first-time buyer or an owner remortgaging.”

Younger people are more likely to have missed payments this year – 29% of 18-34-year olds said they have missed an energy bill payment since the start of the year, more than double that of the national average.

Similarly, 30% of 18-34-year olds said they have missed a utility payment (such as to a phone or broadband provider) since the start of the year.

Londoners have also been struggling to pay, with nearly a third (30%) saying they’ve missed an energy bill payment in 2022.