Four million households owe money to their energy supplier
It was announced today that four million households owe on average £128 as many struggle to cope with price hikes of almost £800 in the last 10 years.
It comes as research undertaken by energy comparison site Switch claim that the UK collectively owes £464 million to energy companies. The average household annual energy bill has increased by £793 over the last 10 years now equating to £1,265 annually. Of course competition amongst energy companies is rife and those willing to supplier are benefitting the most.
"Millions of households are in debt to energy suppliers and the amount they each owe has risen. This is a clear indication of the extreme pressure families are under to meet the rising cost of energy," said Ann Robinson at uSwitch.com.
Ovo energy recently introduced new dual fuel tariffs costing, for typical households, less than £1,000 a year. Consumers should be switching providers in order to significantly reduce their energy bills. We are all very good at using comparison site for our home and car insurance but many often don't think to do the same when it comes to energy bills even though we could be saving £200 annually. Regulator Ofgem recently launched a new campaign Be An Energy Shopper urging consumers to shop around for better deals.
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