Energy price hikes stoking debt fears
Energy price hikes stoking debt fears
Tuesday 15th July 2008
A poll from site moneysupermarket.com found that 40 per cent of consumers are currently finding it hard to pay their energy bills and could not afford a further price rise.
Meanwhile, just under half of the sample (46 per cent) are only just managing to cover the cost of their gas and electricity bills and would find it difficult to pay more.
Paul Schofield, head of utilities at moneysupermarket.com, said: "With price rises on the horizon it is even more important to get on the best value tariff for their area and usage.
"At a time when people are tightening their belts the prospect of energy price hikes is a daunting one - especially as only one in seven of us could afford more expensive bills."
Energy experts cited in report from the Times have predicted that gas and electricity bills could be set to rise by a further 40 per cent this year.
Britons are already believed to be adding to their credit card debt to meet bill payments, despite the fact that this is the most expensive way of paying.
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