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Energy bills could rise by a third by 2020

Energy bills could rise by a third by 2020

Category: Gas and electricity

Updated: 18/12/2009
First Published: 18/12/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Energy bills could increase by over a third during the next decade, with poorly insulated homes to blame, a report has warned.

The annual cost of energy for a three bedroom semi could shoot up to over £2600 by 2020 for properties without sufficient insulation, while families living in detached properties could see their yearly bill edge up to almost £4,000, Which? has said.

Sharp increase could leave more than four million households in fuel poverty.

More than seven in ten people (73 per cent) said they would worry about how they could afford a more than 30 per cent hike in energy costs.

This compares to less than three in ten (28 per cent) who said they find it difficult to cover their current bills for gas and electricity.

Potential rises are likely to be caused by rising wholesale prices, a growing dependence on imported energy and investments in capacity and renewable energy.

"Energy is going to get a lot more expensive over the next decade so the only way to avoid bigger bills is to use less of it," commented Which? editor, Martyn Hocking.

"The Government must take urgent action to stop bills from spiralling out of control and to help consumers make their homes more energy efficient, otherwise millions of people will be face with crippling energy bills in the future."

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