4 million households are in debt to energy companies

2 May 2014

It seems that the people who British households are most likely to hiding from aren’t loan sharks or bailiffs, but energy companies.

energy bills

According to figures from uSwitch, 4 million households are in debt to their energy suppliers to the tune of around £128 each. Add it all up and we owe £464m.

Ann Robinson of uSwitch (NO, NOT THAT ONE) said:
‘Millions of households are in debt to energy suppliers and the amount they each owe has risen. This is a clear indication of the extreme pressure families are under to meet the rising cost of energy.’

The average household energy bill is a completely unmanageable £1625 a year at the moment, which is £793 higher than we were paying 10 years ago. (Ah, do you remember 10 years ago? They were some good times.)

Of course, this is what happens when you mercilessly hike the price of energy by £53 a year, then shrug your shoulders and jet off to Mauritius on your fat cat bonus. You can raise energy prices, but for most people, the extra money just ISN’T THERE.

And even with some smaller suppliers - like Ovo - offering customers energy tarrifs of less than £1000 a year, many are worried that they can’t switch because they’re still in debt to their supplier.

The Ofgem investigation into the energy market can't come soon enough...

TOPICS:   Banking   Utilities   Consumer Advice   Investments   Debt

1 comment

  • Jeremy S.
    It comes as no surprise either. Something needs to be done about the ever increasing energy bills because it is simply unfair to the modern day consumer.

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