The costs associated with household bills could be set to increase dramatically in the early part of next year, according to a number of energy sector analysts.
Experts from the SimplySwitch company suggest that gas bills could rise by around 15 per cent and electricity supplies are also expected to become considerably more expensive for UK consumers.
The rises are being attributed to the expected increase in the costs of supplying gas to European markets from Russia and could see the millions of British families already dealing with debt management issues face further financial pressures.
“It has already been estimated that an energy price hike of just ten per cent would push 400,000 more households into fuel poverty,” said Karen Darby from SimplySwitch.
“A rise of 15 to 20 percent would have an even more devastating effect, and more needs to be done to protect vulnerable households.”
The Credit Action charity reported recently that the typical British household pays out around £3,744 annual to satisfy the interest demands on its outstanding debts.