An expected two thirds of Britons, in an attempt to save money on their energy bills, will cut back on heating their homes. 88% of households are said to be struggling with the rising cost of living as a result of the increase in gas and electricity prices.

A recent report carried out claims that 32% of people will ‘definitely’ be turning down their heating and switching off lights in a bid to save money over the forthcoming weeks, with 35% saying that they will ‘most likely’ be doing the same. The study was carried out by the market researchers company HPI. It has revealed that 24 to 36 year olds will be more likely than old age pensioners to turn down their thermostats. With consumers facing soaring bills for their fuel, the energy giants have been ordered to repay up to £2 billion to their customers, which they have stockpiled from overpayments through direct debits.

After a summit last week with ministers, bosses from 6 power companies have agreed to this climb down. This means that customer’s who are in credit by over a month’s payment will automatically be given a refund, and comes 2 weeks after the daily telegraph newspaper exposed the truth. The companies have been accused of profiteering, as they were making close to £36 million a year in interest from accounts which were in credit. Energy firm have agreed that they will review all their customers’ accounts twice a year, which will then stop people amassing a huge amount of credit. There are over 13 million homeowners which pay a standard fix rate each month by direct debit, with the majority overpaying in the summer months when usage is much lower.

Labour leader Ed Miliband has said, that the introduction of the 1970’s style plan would save the average family around £120. There will be potential savings for government buildings with the NHS saving more than £40 million and schools £28 million which would pay for 1,300 nurses and salaries for more than 650 teachers.