Energy bill debt rises
11/03/2010Personal debt caused by energy bills has risen by 16 per cent in the last two years – meaning that households now owe energy companies £728 million.
As several big companies have announced eye-catching price cuts in the last few days, new research has revealed the extent to which energy prices are causing families financial difficulties.
5.5 million households are in debt to energy companies, and the average sum owed is £132 – 5 per cent higher than last year.
When the price cuts announced by several companies for the end of March come into effect the average domestic fuel bill will be £1,209 a year - £297 or 33 per cent higher than at the beginning of 2008.
That's according to research from uSwitch, which found that although average prices fell by 4 per cent in 2009, they rose by a staggering 42 per cent in 2008.
Many families are still struggling to take control of their finances two years later.
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