British Gas price hike adds to consumers' debt woes
British Gas price hike adds to consumers' debt woes
Tuesday 22nd July 2008
British Gas, the UK's largest energy supplier, is believed to be imposing the higher price in full after scrapping plans to raise prices in stages.
The rise would see the average gas bill hit around £800 per year for a family and would affect around 16 million people who receive their energy from British Gas, the Daily Mail reports.
News of plans to raise tariffs comes after all of the UK's so-called big six energy suppliers have introduced double digit increases to their gas and electricity prices since the start of 2008.
The increased pressure this is putting on households finances has fuelled fears of a problem debt epidemic and a huge increase in the number of people opting for debt management solutions, such as Individual Voluntary Arrangements (IVAs) this year.
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