Gas and electricity Updated:
Research by the Debt Advisory Centre has revealed a worrying trend of people borrowing money to pay for their utility bills, with around 2.5 million people (or 5% of all UK adults) having used loans or credit cards to pay their gas, electricity or water rates in July.
This figure is particularly concerning given the fact that they had to borrow to pay bills during the summer, a time when heating bills are usually a lot lower, and with energy price hikes being imminent it could signal trouble for the winter ahead.
If you've had to use credit to pay energy bills in the past or are worried about how the price hikes might affect you, it's time to start shopping around for cheaper tariffs.
According to figures from energyhelpline.com switching your energy provider can result in savings of up to £281 per year, and now's the time to switch and potentially fix your rate before energy providers have a chance to increase them.
Take a look at the cheapest gas and electricity tariffs currently available:
Saving vs. Typical Bill*
Fix & Save
Online October 2014
Online Price Fix November 2014
Online Fixed Price Energy November 2014
* Saving calculated against an average bill as declared by Ofgem, 2013
(Notes:Source – energyhelpline.com, 23/9/13. All calculations are for an average usage dual fuel household paying by monthly direct debit. Average usage as defined by Ofgem is 16,500 kWh pa of gas and 3,300 kWh pa of electricity.)
Switch energy provider today and see how much you could save
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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