More people are deciding that working from home is too expensive.
Due to rising residential energy costs, a growing number of UK citizens may soon quit working from home and return to the office, CNBC reported on Thursday, citing analysts.
To reduce their energy costs, 14% of 2,000 UK citizens surveyed in the report indicated that they planned to work from the office more often. The percentage is significantly higher (23%) among young individuals (18 to 24 years old).
Between April 28 and May 8, about one in seven UK citizens worked from home, according to the UK Office for National Statistics. Nevertheless, several projections indicate that the energy price cap, which is presently set at £1,971 ($2,329) a year, might soon increase to £6,089 ($7,195) because of a lack of supply.
“The massive energy bill hikes that are coming in October and January are going to push workers to think about how they can keep costs down. It might be that they would rather use their office’s energy rather than their own,” Matt Copeland, head of policy and public affairs at fuel poverty charity National Energy Action, told CNBC.
Another expert said that the cost of heating homes in Britain may soon be less significant than the cost of commuting.
According to Sarah Coles, senior personal finance analyst at Hargreaves Lansdown, "there is a point where energy bills are hike[d] so high that it would be cheaper to commute to work than heat your home during the day, and for some people, it will be enough to prompt a return to work."
Analysts point out that several variables affect whether working from home or in an office is more economical, but they predict that many people will soon be compelled to reconsider the benefits and drawbacks of both.
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