Families could find themselves at greater risk of falling into debt, as new figures have revealed that electricity bills may soon be hiked up.
According to uSwitch.com, action by Ofgem will result in £4.30 a year added onto tariffs, although uSwitch believes this to be part of a bigger investment programme that may mean an extra £548 each year will have to be paid.
Dubbing this a “wake-up call for us all,” director of consumer policy at the body Ann Robinson noted that the country is now entering a time of “high cost energy”, meaning that households will need to adapt accordingly.
“This is just the beginning of a huge investment process that will lead to significantly higher household energy bills,” she said, in the face of predictions that prices could rise to £4,733 each year by 2020.
Citizens Advice recently supported this view that fuel costs will climb, stating that enquiries regarding debt issues with fuel suppliers have increased by 82 per cent since 2005-6.
By Sarah Adie