The cost-of-living crisis has had a huge impact on Britons in recent months, with prices rising on everything from food and fuel to energy bills. And the royal family have noticed the difference too, with a senior royal source revealing they are trying to find innovative ways to reduce their utility bills.
MORE: Prince Harry and Meghan supported by palace over living arrangements
Speaking as the royal accounts for 2020-2021 were released, the source said: "It goes without saying, in terms of the environmental credentials, that not only are we looking at consumption, but also we have an eye on – in terms of the cost of living – one of the big increases that is coming and is happening now is utilities.
WATCH: Inside the royal homes
"So we're looking very much at how we can be innovative in reducing consumption and consequentially as a by-product reducing costs as well to ensure that we can live within and operate within the funding envelope that we are anticipating."
GALLERY: Inside the Queen's 775-room palace she won't return to
It is said to be an issue of particular concern for Prince Charles, who has been taking a very close interest in how inflation and the cost-of-living problems are impacting people, especially the Duchy of Cornwall's tenants, and their welfare.
Prince Charles is reportedly concerned about the impact of the cost-of-living crisis
It comes as it is revealed that spending on property maintenance for the royal residences soared by £14.4million to £63.9million in 2020-2021. A big part of the 29 percent increase is likely due to the ongoing ten-year project to renovate Buckingham Palace, which is focusing on modernising the palace and upgrading water pipes, rewiring, and redecorating.
MORE: Prince Charles' 'very emotional' meeting with Lilibet and Archie revealed
It has previously been said that the Queen's London residence would be at risk of "catastrophic building failure" if the work wasn't carried out.
Buckingham Palace is undergoing a ten-year renovation project
The total taxpayer-funded Sovereign Grant for 2020-2021 cost £86.3million, made up of £51.8million for the "core" funding, and an extra £34.5million for the reservicing of Buckingham Palace. It equates to a cost of £1.29 per year for each person in the UK, or 77p each to cover the "core" part of the Sovereign Grant for official duties – not including the palace works.
Make sure you never miss a ROYAL story! Sign up to our newsletter to get all of our celebrity and royal news delivered directly to your inbox.