Debt-hit Brits face 40% rise in energy bills
Debt-hit Brits face 40% rise in energy bills
Monday 9th June 2008
Consumers, many of whom are already struggling with double digit increases to energy tariffs, will also be hit by a 21 per cent increase in electricity costs, according to industry experts cited by the Observer.
The paper attributes the increases to the soaring price of wholesale energy and adds that as a result of the hikes the average annual gas and electricity bill will climb to £1,410.
This is some £500 more than it was just 12 months ago.
Gordon Lishman, director general of Age Concern, expressed concern that pensioners and low income groups will be the group hardest hit.
He said: "Hikes in food, water and energy bills have been a huge blow to older people on low fixed incomes already struggling to make ends meet, and many will be cutting back to reduce their bills."
News of the mounting pressure on the finances of low income groups comes after figures from the Office of National Statistics showed that in the first three months of this year the number of Britons opting for individual voluntary arrangements (IVAs) rose by 4.3 per cent.
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