Energy bills adding to debt worries in 2012

Mon, 16 Jan 2012

Many people in the UK are likely to see their debt worries increase in 2012 as a result of rising energy costs.

New findings from Citizens Advice have shown 43 per cent of those questioned are fearful they will not be able to afford their next fuel bill, while one-in-two believe their finances will be significantly strained this year as a result of energy commitments.

Gillian Guy, chief executive of the organisation, noted: "We know hikes in prices have put extra pressure on people's budgets at a time when money is already tight."

The industry figure suggested many UK adults may be struggling unnecessarily because they have not opted for the best available deal, while others may be residing in abodes that use up too much heat. 

Shopping around for the arrangements most suited to their own personal circumstances might therefore prove a wise move for those looking to ease their debt burden in the next 12 months.

The news comes after recent research from the Money Advice Trust revealed 1.54 million people sought assistance from a free debt advice agency in 2011.
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