Energy prices rise by 22.7% in a year

1 July 2009

Figures compiled by the Office for National Statistics show that between the first quarter of 2008 and the first quarter of 2009, domestic electricity prices increased by 19.7% in real terms, while the price of domestic gas rose by 34.8% and the price of coal and smokeless fuels rose by 28.9%.

A debt expert for Think Money commented: "During an economic downturn, the prospect of debt will become a reality for many households. The rising cost of living means that some people will find it particularly difficult to afford their essential expenses every month.

"It would come as no surprise if more and more billpayers experienced debt problems and/or trouble paying their bills in the current economic climate.

"As always, we would advise anyone who finds themselves in debt to consider seeking expert debt advice sooner rather than later. Depending on an individual`s circumstances, a debt solution such as a debt management plan could help them stay on top of their debt repayments and essential expenses."

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Think Money offer a range of debt solutions, including debt management, debt consolidation loans and IVAs (Individual Voluntary Arrangements). If you are worried about your debt, contact one of our expert debt advisers today.

Tags: energy, prices, debt

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