Energy debt rises, according to new study

Switch energy and sort your Christmas stocking fillers

 
Compare energy deals and switch supplier to cut your bills by £477* and a chance to WIN Amazon Fire Sticks and Echo Dots

in partnership with Banner uswitch

Looking to switch your business energy supplier? Click here

*Between 1 Jan 2019 and 30 June 2019, at least 10% of people who switched energy supplier for both gas & electricity with uSwitch saved £477 or more.

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.


Cookies help us deliver our services. By using our services, you agree to our use of cookies. Learn more