Debt help may be needed to deal with rising energy costs

23/02/2010

Consumers may require debt help if they are unable to meet the rising costs of fuel bills.

The latest report from Ofgem has revealed that energy costs are continuing to rise despite wholesale prices declining.

According to the survey of suppliers, the average profit margin for a dual fuel customer is £105, £30 more than the November figure of £75.

British Gas recently announced price cuts in their gas supplies of seven per cent, however, other companies have been reluctant to follow.

Thomas Lyon, an energy expert at uSwitch.com, said that the report is "further proof" than more suppliers need to cut their costs to allow customers to "enjoy some relief on their winter fuel bills".

He added that customers could save money by looking around for a better deal with another provider.

Confused.com, another price comparison website, has also urged people not to stay loyal to one company.

Gareth Kloet, head of energy at the site, said that energy suppliers have come to take their customers' loyalty for granted.

He added that by making the most "of the open market place rather than accepting what they're given" customers can "avoid being exploited for their loyalty".

Posted by Jim Mead

Tags; Housing Debt and Bills,

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