Energy debt rises, according to new study

Fix energy prices until 30th September 2017

Looking to switch your business energy supplier? Click here

Use our OFGEM accredited comparison tool to compare the whole market today.

Cooking surface and gas rings

A recent study has revealed that energy debt is on the rise, according to an article published by Energy Live News.

The study displayed that 35% of those currently in energy debt owe more than they did last year, with just 13% owing less.

On average, customers owe an outstanding debt worth £131.

The news comes as another study has shown suppliers have absorbed some of the rise in energy costs themselves.

Researchers from the Government and Reuters news undertook to compare gas and electricity prices for the decade up to 2012 - and found they were huge compared to retail rises in the same ten-year period. Suppliers faced wholesale gas hikes of more than 185% , whilst wholesale electricity prices have risen some 130%.

Consumers have felt the pinch as gas soared by 96% and electricity costs by 83% during the same time period: which accounts for the rise in fuel poverty and indebted customers. However, the Reuters study shows that energy suppliers have absorbed some of these increases themselves, rather than pass the rises onto consumers - something many billpayers possibly would not have believed when the increases were first announced.

Latest gas and electricity news brought to you by UK Power - the energy price comparison site.

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.

Found this page interesting?

Help spread the word and share this page with your friends and family on your social networks.