Piggybank News

January 27, 2010

Energy debt increases

Filed under: Domestic Utilities — nspresources @ 5:39 pm
Tags: , , , , , , ,

Figures released last Thursday from Ofgem show a sharp increase in the level of customers in energy debt in the third quarter of 2009, compared to the second quarter:

  • 13% increase in the number of electricity customers entering into new debt repayment arrangements
  • 21% increase in the number of gas customers entering into new debt repayment arrangements

Energy bills are still higher for most people than they were at the beginning of 2008 even after suppliers cut their prices last year. The bitter winter weather is only likley to worsen this situation as we all have to use more energy to stay warm.  The numbers of people having to enter into a debt arrangement with thier supplier is likely to increase.

Piggy’s  steps to avoid energy debt

  • If you pay by cheque move to Direct Debit and spread the cost of energy across the year
  • Consider an online tariff
  • Switch to a cheaper deal and if you have gas and electric with different suppliers then move them to a single supplier – most companies have discounts or special deals that apply.
  • Reduce your energy usage
  • If you are on a card or key meter consider having it changed to a credit meter – sounds crazy when we are talking about avoiding debt but the price you are paying for your energy will be significantly more if you are on this type of meter.

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