Debt Management News: Energy debts soar by 20%

The number of energy customers entering debt repayment arrangements soared in the third quarter of 2009 – with the average debt rising by 20 per cent annually.

Figures from regulator Ofgem showed that the recession, as well as a continued increase in bills, has hit consumers' pockets hard in the last year.

uSwitch.com noted that the cost of energy has risen by £327 or more since beginning of 2008.

The report indicated a 21 per cent increase in gas customers starting new debt solutions, compared to the previous three months. The figure was 13 per cent for electricity users.

Kevin Still, director at Atlantic, said that "utility payments should be prioritised", adding that "arrears on gas or electricity bills are normally signs of more serious debt problems".

As a debt management company, Atlantic would prioritise the payment of energy bills and any arrears on these as part of setting up a Debt Management Plan (DMP).

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