- Affordability trumps speed of net zero – a recent poll found that 77% of Britons want energy bills cut, with 78% saying affordability should take priority even if it slows progress toward net zero.
- Octopus Electric Vehicles reported an 89% jump in new and used EV leasing orders in March compared with February. Used‑car platforms across Europe have seen EV sales nearly double, with the share of EV searches on Germany’s mobile.de tripling from 12% to 36% since early March.
- Analysts say the instability caused by the Iran war is accelerating a transition that was already underway, as consumers seek predictable running costs and avoid volatile fuel prices.
As geopolitical turbulence reverberates at the pump, UK consumers are making their voices heard. Polling released by Energy Live News shows that more than three quarters of Britons want the government to prioritise energy bill cuts, with high energy costs viewed as a structural drag on the economy.
The same survey found that 78% would accept a slower pace of decarbonisation if it meant cheaper power and heat. The findings highlight a widening tension between affordability and climate ambition: while the public broadly supports net‑zero goals, immediate costs are causing acute pain.
Those costs have spiked since Iran’s closure of the Strait of Hormuz sent petrol and diesel prices soaring. European Commission data show that average petrol prices across the EU rose 12% to €1.84 per litre within three weeks.
In the UK, pump prices have climbed to £1.58 per litre for petrol and £1.91 for diesel, levels last seen during the peak of the pandemic recovery. Household energy bills are also expected to rise again in July, compounding the squeeze.
EV leasing boom
In response, consumers are embracing electric vehicles in unprecedented numbers. Octopus Electric Vehicles, a major leasing firm, recorded an 89% month‑on‑month surge in new and used EV leasing orders in March.
The trend is not limited to the UK. A Reuters survey of European used‑car platforms found that the share of electric vehicles sold on France’s Aramisauto nearly doubled over three weeks, while EV searches on Germany’s mobile.de tripled to 36%.
Norway’s Finn.no reported that EVs overtook diesel models as its best‑selling fuel type. Analysts attribute the surge to simple economics: electric vehicles offer predictable running costs when fossil‑fuel prices are volatile, and a growing range of models and battery‑health certificates is making used EVs more attractive.
The combination of public pressure and market behaviour has important policy implications. On one hand, the government faces calls to deliver bill relief. On the other, the surge in EV adoption demonstrates that high fuel prices can accelerate decarbonisation without direct subsidies.
If policymakers can harness this momentum – by expanding charging infrastructure, incentivising fleet turnover and integrating EVs into smart grids – Britain could achieve emissions reductions while satisfying demand for affordability.
Energy pricing and consumer sentiment are powerful levers. Companies involved in EV leasing, charging networks and battery supply chains stand to benefit from a demand surge.
Utilities should prepare for increased electricity consumption from transport and ensure networks can handle new loads. At the same time, policymakers must manage equity concerns: lower‑income households may struggle to afford EVs even as pump prices rise. Balancing these dynamics will define the next phase of the UK’s energy transition.
