The Magazine for Asian Investors
UK consumers’ energy debt is reaching a record high. Six million households in the country owed an average of 206 pounds ($249) before energy costs spiked in October and rose again in January.
The UK is expected to pay an 82% higher energy bill in October. Organizations warn that millions of people could fall into poverty unless the government provides billions of pounds to cushion the impact.
According to the report, energy prices rose 54% in April, while Uswitch reports that energy debt has reached a record high. The debt amounts to 1.3 billion pounds.
Nearly a quarter of households had debts of £206, a 10% increase in just four months.