Date: 10/02/2022
Energy Switch And Advice
Millions of UK household to face fuel poverty
Millions of households in the UK will face fuel poverty because of the rise in the price of energy. The average rise in energy price will be £693 for households on standard tariffs. This will be more for households on prepayment meters.
There is a rise of 54% for the Energy Cap, that was agreed by regulators. That is a substantial rise to the cost of energy.
Households will face fuel poverty despite, the Chancellor, Rishi Sunak, putting forward £9.1 Billion to help households with their energy bills.
This impact will be especially felt by low-income households, and it will have financial implications for these households. More and more people are expected to go into arrears with their rent and bill payments.
This will undoubtedly, affect household’s income that they spend on food and necessities. This could mean that as well as being in arrears, households might have to reduce their spending on food.
Charities have warned that this could have a direct impact on Food Banks and Homeless Shelters as more and more people struggle financially.
The energy companies have said that this increase is out of their control due to the extensive rise in the cost of buying wholesale energy.
Comment
As energy prices rise, many people will be facing fuel poverty. This means, people will not be able to heat their homes sufficiently because they will not have the money.
This will especially impact on low-income households. So, lots of people will be forced to stay in cold environments.
In addition, for many low income households who choose to heat homes, they might have to reduce their spending on food and necessary amenities.
Even though the UK government have put £9.1 Billion towards supporting households with their energy bills. This will not be enough and they need to do more.
Additional Information
Find a Food Bank, here: Find a Food Bank.
If you are struggling with paying for your energy, read our article: Help with energy bills (5 Support Available).
Also read our article: Grants and benefits to pay gas and electric.
If you want to reduce your energy bills, read our article: How To Reduce Your Energy Bills.
If you are having financial difficulties go to Citizens Advice here. Citizens Advice.
If you are looking for the best SIM only deal, read out article: Best SIM Only Deals UK – best SIM only plans available
If you are looking for home insurance, read our article: Home Insurance – Compare Cheap Quotes.
If you are interested, check out: Best Bank Accounts for Bad Credit.
Money Advice Service
For debt management and advice on how to pay for bills go here: Money Advice Service info page.