“…Unlike previous research documenting a gap between general environmental knowledge and pro‐environmental behaviours (e.g., Eldesouky, Mesias, & Escribano, 2020; Frederiks, Stenner, & Hobman, 2015; Grimmer & Miles, 2017; Kollmuss & Agyeman, 2002; Paço & Lavrador, 2017; Steg, Perlaviciute, & van der Werff, 2015; Torma, Aschemann‐Witzel, & Thøgersen, 2018), the focus of this study is on the relationship between a narrow knowledge of electricity use and consumption, which is mainly driven by concrete financial motives (rather than altruistic values), and actual electricity savings (Blasch et al., 2017; Brounen et al., 2013; Trotta, Kalmi, & Kazukauskas, 2017). Awareness of electricity use and consumption, being one component of “energy literacy”, was found to be correlated with “financial literacy”, savvy financial choices and lower electricity consumption (Blasch et al., 2017).…”