Households braced for February fuel bills hikes - Gas and electricity - News | moneyfacts.co.uk

News

Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Households braced for February fuel bills hikes

Households braced for February fuel bills hikes

Category: Gas and electricity

Updated: 03/02/2012
First Published: 03/02/2012

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 It is now over 6 months old so the content may be out of date.

Households are bracing themselves for soaring fuel bills this month as freezing weather sets in.

People will see their fuel bills rocket to an average of £190 this month - £84 more than February last year - as a cold snap and higher prices grip the UK.

The whole of the UK will face a monthly bill of £4.9 billion this month, compared with £2.7 billion in February 2011, research by Energyhelpline.com has found.

Temperatures are predicted to plummet this month, and are forecast to be 6.7 degrees colder than the same point last year, meaning the amount of gas needed to heat a home will rise by more than a third.

The combination of cold temperatures and typical gas prices being an average 18% higher than last winter has meant households around the country are now having to find an extra £2.2 billion for the month.

If temperatures stay on track with what has been forecast, the UK's 26 million homes are set to pay £189.82 this month compared with £105.59 for the same period last year.

The £84.23 difference consists of an extra £64.10 because of how much colder the weather is this year and £20.13 because of the 18% gas price hikes over the summer.

"This news will send a chill down the spines of millions of embattled energy customers who have been braving the elements and juggling their household budgets this week," Mark Todd, director of Energyhelpline.com, said.

"As we look ahead to a bleak forecast of snow and sub-zero temperatures this weekend and beyond, energy consumers will be facing a nagging doubt over whether they can afford to heat their homes."

Homeowners who have not recently shopped around the energy market could find they are paying more for their bills than they need to.

Just a few minutes research could save people more than £200 a year on their gas and electricity bills.

Compare Gas & Electricity suppliers

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.

 
 
Close