Energy bills could approach £5,000 a year by 2020

24 June 2009

Research from uSwitch.com warns that if current price trends continue, the average annual household energy bill could be more than £4,700 a year by 2020.

Uswitch claims that in 2004, the average bill size was £580 - today it has leapt to £1,243, which is 114% higher.

According to Ernst & Young, investment in Britain`s energy supplies will cost an estimated £233.5 billion (including £112.5 billion for renewable energy generation), which will add around £548 a year onto household energy bills for the next 15 years.

A debt expert for Think Money said: "If energy bills do rise as predicted, we may see more people struggling with debt and possibly ending up in fuel poverty - which is when a household is spending at least 10% of their total income on their energy bills.

"It is essential that people think about ways of coping with increases like this - for example, investing in their home and making it more energy efficient."

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