Brits 'struggling with energy bills'
Following the coldest UK winter in three decades, many Britons got an additional chill when they received their energy bills for these months, it has been revealed.
According to research by uSwitch.com, 21 per cent of the country's households are currently in debt to their utility providers, with the average debt now five per cent higher than last year and 16 per cent more than in 2008.
Furthermore, four out of ten consumers who are currently in energy debt claim they now owe more than they did at the same point in 2009.
While the price comparison site claims the wholesale cost of power has remained relatively low, many providers have not passed on these savings.
Such news could mean Britons do not have enough free cash to consider saving a deposit to buy their first home, which could see more people considering flats to rent in the London borough of Greenwich in areas such as Eltham or elsewhere in the city as a more affordable housing option.
If the rent a home, consumers can still take advantage of schemes designed to lower their energy bills - such as boiler scrappage - which Love Money's Rachel Robson recently claimed was advisable.
Written by Martyn Glynn
Published 11th March, 2010
© 2010 Estates IT Limited
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Many households are struggling to pay off their energy bills, it has been revealed - although property to rent in London could see people freeing up some cash to pay off the debt which would otherwise be spent on a mortgage.