Hot weather sees bank accounts sweat

As the temperature outside soars bank balances fall, as Britons spend millions keeping themselves cool.

UK residents are spending almost £50 million on fans, ice, and air conditioning, research from moneysupermarket.com reveals.

Some 9.2 million British households already have at least one portable fan in place, and more than 370,000 have air conditioning installed.

And, once bought, overheating Britons then pay more for the electricity to use them.

Air conditioning costs on average £38.42 in power from May to September, while fans use up £5.91 worth of electricity.

"With the possibility of a succession of hot summers consumers may want to look at installing air conditioning units or investing in fans," said Paul Schofield, head of utilities at moneysupermarket.

"However, when consumers step out of the heat and into comfortable, cooled rooms I would urge them to consider the costs, which as the research shows can be quite hefty.

"Consumers should also make sure they keep an eye on energy bills to ensure they don't get a shock when their next bill arrives on their doorstep."

But costs are coming second to cooling, with some 23 per cent of those without fans or air conditioning planning to install them in the future.

Britons in the Midlands and Wales are the most likely to own fans, and those in the Midlands also use their equipment longer - with 45 per cent of people using their fans of air con between two and ten hours a day.