By A quarter of households won’t be able to afford energy bills by October
According to reports, several homes now use at least 10% of their household income on energy bills with a quarter warning that they do not expect to be able to afford energy bills by October.
Energy rates are said to have almost doubles overnight.
National charities are now warning that 2.5 million more households are expected to face financial difficulties as a result of the increase in the cost of fuel.
5 million households will now be spending at least 10% of their total budgets.
Senior Economist Jonathan Mashall said: “Today’s energy price cap rise will see the number of households experiencing fuel stress double to five million.
“This autumn another increase in energy bills hastens the need for more immediate support”.
Citizens Advice said around five million people would reportedly be unable to pay their energy bills from April.
It is expected that the price cap will rise again in October based on predictions.
Energy UK said: “Most suppliers are offering alternative options such as submitting at a later date, and different methods to send meter readings such as text, social media, and email.
“This demonstrates the scale of the problem”.
Citizens Advice chief executive Dame Clare Moriarty added: “The energy price cap rise will be potentially ruinous for millions of people across the country. The support announced so far from the Government simply isn’t enough for those who’ll be hit hardest.”
