UK energy bills ‘rising twice as fast as in Europe’

7 November 2008

New figures have shown that the rate at which UK energy bills have risen in the past year is double that of the EU average.

The statistics, compiled by the Organisation for Economic Co-operation and Development (OECD), showed that average UK energy bills rose by 29.7% in the past year, compared with just 15% in the EU as a whole.

Rising energy costs have been one of the main sources of financial hardship for British households throughout the economic crisis, with many being pushed towards debt – and with wholesale gas and oil prices falling in recent weeks, there have been calls from a number of leading bodies for companies to lower their prices to consumers accordingly.

A spokesperson for debt management company Gregory Pennington said: “Energy bills continue to put pressure on households worried about their finances, especially those struggling with debt. There has been some speculation that energy prices might have fallen in the past few weeks, as we have seen with the price of petrol, but so far there are no signs of this happening.

“Our advice to anyone struggling with debt is to seek professional debt advice as soon as possible. The right debt management solution could reduce their outgoings and help to relieve some of the pressure.”

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Gregory Pennington offer debt management plans as well as a range of other debt solutions. If you are worried about debt, contact one of our expert debt advisers now.

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