Almost half of the UK population is concerned that they will not be able to make their next fuel bill payment.
The soaring cost of living is taking its toll as many struggle to meet household bill payments. Figures from the Citizens Advice Bureau (CAB) found that a staggering 43% of people are worried about being able to pay their next fuel bill – despite some having recently reduced rates.
Last week, four out of the six leading gas and electricity suppliers reduced their prices by up to 5%. British Gas, Npower, EDF Energy and SSE have all reduced either their gas or electricity prices by up to 5%, knocking around £20-£40 off the annual dual fuel bill.
Whilst this might provide some relief to bill payers, it is unlikely to be enough to have a significant impact.
CAB Chief Executive, Gillian Guy, said; “We know hikes in prices have put extra pressure on people’s budgets at a time when money is already tight.
“We’re worried that some people are struggling unnecessarily because they’re not on the best deal; live in homes that haemorrhage heat or are not getting all of the financial help available to them.”
As part of the ëBig Energy Weekí (16-21 January), the Citizens Advice Bureau found that 53% of the nation are having the heating on less in order to cut energy bills.
One in three donít know that energy companies are offering help to help people insulate their homes, with a massive 71% of people claim that their energy bills put a strain on their personal finances.
Those living in the West Midlands fear they wonít be able to pay their latest energy bill, more than any other part of the country.
Parents with children under the age of 15 living at home are most worried about energy bills putting a strain on their finances.
If you are worried about paying your next bill, it could be well worth shopping around to find a cheaper supplier.
Compare gas and electricity with Money Expert.