Households struggling with winter fuel bills

According to recent reports there are now many households that are struggling with winter fuel bills as a result of very cold weather coupled with lack of price cuts from energy suppliers. The high energy bills that some households are having to try and cope with will add further strain to the already difficult financial situations of many people.

The average amount that households are expected to pay for the fuel that they used over the winter period is £532.70, and this takes it above the previous record of £475, reflecting an increase of over £50. Many have been keeping the heating on for longer during the cold weather and this has driven up the cost of their energy bills.

Whilst the spring is officially here and summer is only around the corner there are still warnings of cold weather being released, and this means that consumers are likely to continue using their heating at a time of year when they might usually have stopped using it. Many are also putting the temperature up when using their heating, which can also make a big difference on bills.

The figures relating to winder fuel bills were put together by Energyhelpline.com, which has accused the government of failing to stand up for consumers. Whilst wholesale prices on energy have fallen dramatically by around 60 percent there are concerns that household energy usage costs have only dropped by around 15 percent coming nowhere near reflecting the saving that the energy firms are making.

Officials are also concerned that some people may be receiving inaccurate bills and paying more than they need to because they do not take the time to check the bills. Consumers are also being advised to try and switch providers to get a better deal.

Energyhelpline.com stated: ‘In a privatised energy market, there is little governments can do and they need to be honest and tell people that the only way to reduce their bills is by taking personal responsibility to find the best deals.’ 

Tags: wholesale prices, energy suppliers, energy bills, market, responsibility, Heating, previous record

Chiltern: Men heavier in debt than women

Men trying to get their finances under control are further in debt than their female counterparts.

According to research by Chiltern Debt Management, men have 20 per cent more debt than women and are less able to repay money borrowed each month as a percentage of contractual debt repayments.

Data showed that a woman on an informal debt management plan would take 22 less months to become debt free than a man.

Furthermore, men on these types of plan owe an average of £29,914 to 7.8 creditors while the female equivalent owes £23,946 to around 8.1 creditors.

Joanne Gill of Chiltern commented: “People who use a debt management plan aren’t trying to avoid repaying their debts, or get a large percentage of them written off by creditors, they’re fulfilling their responsibility to pay what they can and communicate with creditors to ensure both parties are being treated fairly.”

Personal debt totalled £1,363 in August this year according to statistics from Credit Action.

Tags: money, personal debt, GBP, female equivalent, Joanne Gill, Debt management plan