How you can save money on your energy bill as debts rise
The Rise in Energy Debt: A Record High of £4.79bn
The amount of money owed to energy suppliers by customers has risen again to a new record high of £4.79bn.
Regulator Ofgem recently reported that total debt and arrears in England, Wales, and Scotland have increased by 15% in the past year.
The data, updated every three months, covers the period from January to the end of March. These figures specifically pertain to energy customers who have been in debt for more than three months.
On average, arrears for customers without a repayment plan have reached £1,876 for electricity and £1,623 for gas – significantly higher than those with a repayment agreement.
In July, energy prices are set to rise for millions of households due to the escalating costs of gas.
Despite this increase, experts suggest that there are still opportunities to reduce energy bills, even for those who believe they have exhausted all possible savings.
