Winter energy costs for homeowners and tenants
According to new data released by Uswitch, almost 60% of households have reported that they are concerned about how they will meet energy bills this winter.
It’s estimated that half a million more households will owe money to their providers compared to 2020.
With the continued rise of inflation across England causing the cost of essential goods to go up, such as food and energy, it is predicted that many will keep their heating off to keep bills down.
The concern is that many poorer households may find themselves not being able to meet payments and will turn to borrowing more or falling behind in an attempt to meet their essential needs.
Data from The Money Charity has revealed that households in the UK spend a total of £120 million a day on water, electricity and gas, with a rising proportion starting to experience arrears on their energy bills.
Consequently, charities such as StepChange Debt Charity have seen a 388% monthly increase on their gas and electricity arrears web page.
As UK households are now going into the coldest time of the year, further research has shown that £510 million will be owed in total to suppliers. This is an increase of £77 million since 2020, as many feel the pressure of the rising cost of energy.*
With recent budget announcements introducing measures to help those that need it, StepChange are still concerned that many lower income households will experience a lot of debt problems over the next few months.
Are you concerned about paying your energy bills this winter?
Charities like StepChange can provide extra guidance for those experiencing financial difficulties, as well as ways you can keep your home warm this winter.
There is also further support available through the winter fuel payment, cold weather payment and warm home discount; schemes that involve a contribution of between £100 to £300 from the government towards electricity and heating bills.**
Whether you’re a homeowner, landlord or tenant, we’d like to help you with your property needs this winter. Contact us for more information.
*Uswitch
**GOV.UK
