The number of UK families falling in to fuel poverty is rising rapidly according to the Department of Energy and Climate Change.
The worrying figures from their ‘Annual Report on Fuel Poverty Statistics 2011’ come alongside a statement from British Gas saying their fuel prices will increase come 18th August this year. Just eight months after prices were upped 7 per cent, the price of electricity will be raised by 16 per cent and gas by 18 per cent. This rise equates to an extra £200 pounds a year on their fuel bills.
These are alarming numbers for householders and are not made easier by the above report claiming that the number of families that fell into fuel poverty had risen from 4.5 million in 2008 to 5.5 million in 2009. The majority of these were in England, where the number rose from 3.3 million to 4 million in that year.
Matt McKenning, Operations Director of MoneySave, said: “Household finances are already being stretched and the upward trend in those falling into fuel poverty is very worrying. With the recent news of further price increases in gas and electricity the number of people having to make the choice between being warm or being fed looks set to rise even further.
“Consumers should be aware that fuel suppliers must give 30 day’s notice prior to any change in prices. This allows householders the opportunity to shop around for the most competitive tariff.”
Kevin Still, Director of Atlantic Financial Management added: “Rising costs of living, notably fuel, energy and insurance premiums, are having a significant impact in reducing household disposable income and in many instances creating serious debt problems. One of our initial priorities as a debt adviser after undertaking a review of your financial circumstances is to prioritise payments, so that the essential ones are made to protect your house and key assets, like a car used for work.”
A household is classed as living in fuel poverty when they spend 10 per cent of income on fuel to keep the household at an adequate level of warmth. Adequate warmth is defined as 21 degrees for a main living room and 18 degrees for other rooms that are occupied.
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