As the cost-of-living crisis continues, gas distribution networks SGN, Cadent, and financial education charity MyBnk have announced an expansion of their youth fuel poverty programme to Manchester, Birmingham and the south of England, building on the impactful work already undertaken in London and Glasgow.
This expansion – Fuelling Financial Independence - will bring vital financial education support to over 7,000 young people facing financial stress this winter. It builds on the success of supporting over 5,000 young people over the last three years with a flagship module on Energy Safety, Efficiency, and Affordability, developed for MyBnk’s Young Adult programmes. The partnership aims to shine a light on the unique struggles of young people entering independent living without the resources to manage rising energy costs by providing them with vital skills to maintain a safe and warm home.
For many young people, this festive season wasn’t about presents or nights out with friends; it was about making impossible choices - like whether to heat their home or buy food. Recent cuts to the winter fuel allowance have rightly sparked concerns about the impact on pensioners, yet little attention has been paid to other groups living in vulnerable situations, particularly young people. While support schemes for older populations are vital, they overshadow the growing number of young people struggling with rising energy costs. As temperatures drop, many are navigating the challenges of independent living, often without the safety nets or targeted financial help available to others. Despite being just as vulnerable to the physical and mental toll of fuel poverty, their struggles remain largely ignored in national conversations.
The Department of Energy Security & Net Zero’s 2024 annual fuel poverty statistics report found that a quarter of young households – where the oldest person in the household is between the age of 16-24 – face fuel poverty, the highest of any age group. This issue is even more acute among vulnerable groups, such as care leavers. MyBnk’s 2022 care leavers research found that 67% feel anxious about money and 80% want more help managing their finances. This pressing need has inspired SGN, Cadent, and MyBnk to intensify their focus.
Kerry Potter, Group Social Impact and Vulnerability Manager at SGN, said: “We’re really pleased to be expanding our partnership with MyBnk to provide this essential energy support and safeguarding service to young care leavers and other independent young people. MyBnk are seeing first-hand the impact the cost-of-living crisis is having on young people struggling to afford to maintain a safe and warm home. Through this partnership, we’ve already helped hundreds of young people to use energy safely and affordably and we’re delighted that it’s expanding to help even more to address fuel poverty and the challenges they’re facing.”
Leon Ward, CEO of MyBnk, said: “Many young people moving into their first homes are unprepared for the realities of rising energy costs and managing a household budget. This partnership provides them with practical tools and knowledge to take control of their finances and stay safe and warm. By expanding this support to more regions, we’re addressing an urgent need and helping to create lasting financial resilience for some of the most vulnerable in our society.”
The partnership focuses on the delivery of MyBnk’s young adults programmes for those aged 16+. This includes the award-winning homelessness prevention programme, The Money House, which educates young people on the money management skills needed to maintain a safe and warm home, to understand energy use, bills and fuel poverty, and raises awareness of carbon monoxide among young people.
This is all especially crucial for young people moving into their first independent homes, who often find themselves struggling with the physical and mental strain of managing bills they may not have been prepared for. Young people like Kaitlyn, a MyBnk Money House participant from Glasgow, who said:
“I work full-time and have moved to a house by myself for the first time. It has been very peaceful, but I didn’t realise the costs involved in setting up a house and this has been a massive financial blow for me… My initial thought about this course was that it is going to help me understand why I am paying for certain things like national insurance. It has done that, but it has also helped me understand the meaning behind financial terms that I hear in my day-to-day life but cannot fully make sense of, for example, the difference between a direct debit vs a standing order. It essentially filled the gaps in my knowledge and made me aware of the different options that are available, thus, making me feel more able to manage the costs of a new house.”
SGN, Cadent, and MyBnk are committed to highlighting the often-overlooked needs of young people in fuel poverty, bringing critical attention to this underserved group as they face one of the most challenging seasons of the year.
