A new report from Centrica, the biggest energy supplier in the UK, says that energy bills could go up by more than 60 per cent in the next few years. We could see gas bills over £1,000 a year within the next 10 years becuase of high oil prices, and it could end up affecting electicity prices too.
MD for Centrica, Jake Ulrich said that gas prices would rise for some time, he said: “Iit is going to hit people hard.”
“I do think we will see people change their behaviour, I think people will use less energy and I hate to go back to the Jimmy Carter days in the US, but maybe it’s two jumpers instead of one.”
“I think people will change the temperature they keep the house, they’ll be more cognisant of energy waste, they’ll buy better appliances.”
>> Click here to watch Jake Ulrich talk about rising gas prices >>
Estimates from the Government and Energywatch say there are around 2.5 million to 4 million people who have fallen into fuel poverty. This is when more than 10 per cent of your household income is spent on fuel bills.
EnergyWatch say that 1,000 people per day are in debt with their utility bills and are being forced into using more expensive pre-pay meters. My worry is that many elderly people will not be able to afford these basic living requirements of light and heat.
If you are struggling to pay your fuel bills then you should consider switching energy suppliers. If you do this at the moment there are companies offering a ‘price fix’ option, where they guarantee to fix your bills for a specific time period, this way at least you know how much you will be paying in 6 months or 1 years time.
