Debt charities call on Ofgem to ramp up energy debt protection

The UK’s three largest debt charities have called on the energy regulator Ofgem to urgently increase protections for people with energy arrears, as rising costs continue to impact households. Citizens Advice, the Money Advice Trust and StepChange Debt Charity are warning that with a further substantial rise in the energy price cap coming in October,…

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Call for Government to update energy bills support as crisis outpaces help

The Government should immediately update its package of support to help households with soaring energy bills before the cost-of-living crisis grips even harder following October’s energy price cap increase, according to a new report by the Business, Energy and Industrial Strategy Committee (BEIS). The report comes as people are feeling the squeeze of 40-year high…

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One in three households expected to fall into fuel poverty

8.2 million households, one in three in the UK, are expected to be in fuel poverty following October’s price cap increase, National Energy Action has warned. Today fuel poverty charity National Energy Action (NEA) releases worrying new figures amid the cost-of-living crisis. Energy experts Cornwall Insight has predicted that when the price cap rises in…

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Energy price cap likely to rise to £2,800 in October

Ofgem boss Jonathan Brearley has told MPs the regulator expects the price cap to increase by more than £800 this October as the war in Ukraine continues to exacerbate the energy crisis. Appearing before the Business, Energy and Industrial Strategy (BEIS) Committee both Brearley and former Ofgem Chief Executive Dermot Nolan apologised for not intervening…

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Energy debt doubles to £1 billion with a quarter of consumers in debt

The amount of money that households collectively owe to their energy suppliers has doubled in the past year to reach £1 billion, with a quarter (23%) of consumers now in energy debt, according to new research from Uswitch.com, the comparison and switching service. The number of households in debt to their supplier has risen by…

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2.5m households fall into fuel stress with another 2.5m to follow in October

The number of English households in ‘fuel stress’ will double from 2.5 to 5 million as a result of the price cap rising from today (Friday), with another 2.5 million households at risk in October if the price cap rises again to £2,500, according to new Resolution Foundation research. The research shows that low-income households…

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More than 14 million people unable to afford October’s energy hikes

New research published by Citizens Advice has predicted that £145-a-month hikes to energy costs in October could mean one in four adults, equivalent to 14.5 million people, will be unable to afford their bills. The figure is up from around five million saying they already can’t afford April’s price increase of £60-a-month. The charity included…

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Fuel stress set to impact one in four older households

Charity, Age UK has joined the call for the Chancellor to do more to help older people through the energy price crisis. The charity says that nearly a quarter (24 per cent) of older households in England will be in fuel stress when energy prices go up from 1st April, this is up from just…

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Rising energy costs likely to push two in five families into debt

A hike in the energy price cap of £693 is set to push two in five families into debt, according to the latest Household Financial Confidence Tracker from comparethemarket.com. The price cap was announced in February and will come into effect in April. 42% of families with children at home believe they will need to take on…

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Charities warn £3,000 energy bill could leave 8.5 million households in fuel poverty

The End Fuel Poverty Coalition (EFPC) has issued a warning that the energy crisis could leave 8.5 million households unable to heat and power their homes. The group, which represents almost 50 organisations, claims that cold homes cost lives and that more frail and older people could die next winter without further action from the…

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Energy price cap rise will add £693 to average bills – industry reaction

4th February 2022 News | #energy debt

Households will face a record energy bill increase of 54% from April after regulator after Ofgem lifted the cap on default tariffs to £1,971. With energy market prices increasing fourfold over the last year, Ofgem upped the maximum rate that suppliers can charge for an average dual-fuel energy tariff by £693. Once the increase comes…

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Volatile energy prices predicted to continue into 2030

3rd February 2022 Consumer Collections | #energy debt

Research from Cornwall Insight has shown that conditions could be in place for volatile wholesale energy prices to continue into 2030 and beyond, unless the UK develops a long-term strategy to cope with changes in energy production and unstable economic, geopolitical, and ecological systems. Cornwall Insight’s Benchmark Power Curve, which looks at energy investment and…

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Energy price hike risks more turning to food banks

2nd February 2022 Consumer Collections | #energy debt

Rising energy prices will risk more Scottish consumers turning to food banks, Citizens Advice Scotland (CAS) warned. The charity says more and more people in Scotland are asking for information on paying their energy bills because they are facing a ‘nightmare scenario’ as the cost of living crisis bites. The energy price cap will rise…

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