Many Worry About Bills As Energy Prices Rise
Published: 20 June 2011 By Peter Thompson Leave a Comment
Rises in energy prices are causing many customers to worry about how they can afford their energy bills.
According to moneysupermarket.com, over 60% of customers are worried about how they will afford their energy bills in the event of more hikes in energy prices.
Scottish Power recently announced it’s increasing the cost of standard gas by 19% and that of electricity by 10%, adding around £180 to customers’ annual bills.
As a result of this price hike, a poll of 1157 moneysupermarket.com users found a third of energy customers are worried they won’t be able to afford to heat their homes this winter if the remaining five of the ‘Big Six’ energy giants are true to form and also announce increases to their prices.
A further third will have to cut back to afford their gas and electricity bills.
Some have already taken action to look for a better energy deal.
Apathy will cost consumers dearly; bill payers languishing on their supplier’s standard tariff could save up to £382 a year by swapping to the current cheapest fixed deal – the Fix Saver v2 tariff from EDF Energy, at £1,009 a year.
As Scott Byrom, utilities manager at moneysupermarket.com comments: “It’s never too late to make a saving and I urge anyone who is paying over the odds for their gas and electricity to switch now.
“It is unlikely the best priced fixed products will be available for long so now really is the time to make the switch. The more of us who move on to a better deal, the higher the need for energy companies to compete for our business and hopefully this will need for more competitive prices for everyone.”
MoneyHighStreet comments: “With so much focus for many on the need to save money, it is vital to take action to make sure you have the best deals you possibly can, whether that be for utility bills, shopping bills, insurance or any other aspect of your day to day life.
For some a budget will help, ensuring there is a clear understanding of income vs expenses.
For some there is a risk of falling into debt. If this is something worrying you, the sooner you take action the better. There are ways to manage debt but you need to take steps do so, it will not miraculously go away if you just try and ignore it.’