Energy Prices On The Rise

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Energy Prices On The Rise

According to Citizens advice energy prices have risen eight times the rate of earnings in the past three years.

The charity has found that suppliers have increased their gas and electricity prices by on average 36 per cent since October 2010, during which time earnings have risen only by 4.4 per cent. These prices have also outstripped the rate of inflation as well, almost four times the 10.2 per cent increase in the last three years.

Energy supplier are not showing any signs of putting a stop to these rises, with recent announcements that energy prices are rising people are going to be struggling to pay their bills even more. With is being winter people are likely to be racking up more of a debt with these energy companies as their bills will be more. The energy companies are trying to blame these increases on the green taxes that the government have set.

Citizens Advice said that 28 per cent of people who seek help with an energy problem also have a debt issue, with half of these in debt to their energy suppliers, while others have card or personal loan debts.

This is going to cause a lot of debt over the winter as people are going to be using a lot more energy. This will be causing people to come out of the winter with big debts that leaves them still struggling to pay their bills in the summer also.

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