Utility bills up for majority, study shows - Gas and electricity - News - Moneyfacts


Utility bills up for majority, study shows

Utility bills up for majority, study shows

Category: Gas and electricity

Updated: 07/04/2009
First Published: 07/04/2009

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 It is now over 6 months old so the content may be out of date.

Britons are having to change their spending as a result of the economic downturn, research has revealed.

According to Norwich Union, 74 per cent of people have seen an increase in utility bills over the last year - a finding that could have contributed to the fact that two-thirds have less disposable income.

In addition to higher gas & electricity bills, more than 20 per cent are also spending more on mortgage and rent, while 71 per cent are buying cheaper food in order to make money go further.

But with 44 per cent of people now setting a budget, head of investments at the life insurance provider Anthony Rafferty suggested that some good is coming from the situation.

"It's no surprise that people are feeling the pinch of the recession, yet what is encouraging is that some people are actually developing sound financial habits as a result," he said.

Last week, the government welcomed new EU standards for kitchen appliances, stating that they will help lower electricity bills for consumers.

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 Any products featured may be withdrawn by their provider or changed at any time.

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