Debt News

Energy price hikes `bad news for people in debt`

1 September 2008

Consumers experiencing debt problems may be adversely affected by the energy price hikes recently announced by two more suppliers.

In a potentially unwelcome development for those in difficulties over their personal finances, npower has raised its prices by 26 per cent for gas and 14 per cent for electricity.

Meanwhile, ScottishPower has hiked its tariffs by 34.4 per cent and 9.4 per cent for gas and electricity respectively.

Commenting on the changes, Tim Wolfenden, head of home services at uSwitch.com, advised: "Consumers should look to pay by direct debit and move to an online plan where possible to get the best available prices."

According to a recent survey conducted by the Chelsea Building Society, the rising cost of living in the UK is preventing families from providing the same level of financial support they would otherwise offer, with 30 per cent of respondents saying they cannot offer money to relatives struggling with money problems.