Brits anxious about turning on the heat this winter
With a summer of energy price hikes in full swing, a third of Brits (34 per cent) are already worried they cannot afford to heat their homes this winter.A poll from price comparison site moneysupermarket.com finds nearly a quarter (23 per cent) of people will have to make cut backs in other areas to pay for increases in their gas and electricity bills. Worryingly, just one in ten Brits (11 per cent) say they could still afford their bills once energy prices rise again.
The second bout of hikes this year has seen energy prices soar. British Gas customers - the latest to join the pricing war - now face a £416 increase from this time last year and will be paying £1,328 on average a year for their fuel bills - that's over £110 a month.
Scott Byrom, utilities manager at moneysupermarket.com, said: "With inflation at a 16 year high of 4.4 per cent for July, fuelled in part by high energy prices, it is little wonder that the prospect of further price rises is causing concern for bill payers. It is a worry if people - particularly the old and vulnerable - are deterred from heating their homes because of the mounting cost. As the winter approaches, we may see people think twice before turning the thermostat up.
"Of particular concern are the 4.5 million British households currently in fuel poverty and with the threat of higher energy prices and higher inflation, this could rise to 5.5 million if prices increase by just 25 per cent. With the cost of gas and electricity on the up, action needs to be taken now to prevent the number of people in fuel poverty escalating drastically."
The research also reveals that one in seven (16 per cent) Brits are likely to swap supplier to save money with a further one in seven savvy Brits (16 per cent) planning to knock pounds off their utility bills by using energy more efficiently.
Scott Byrom continued: "With many people anxious about the rising cost of energy, it is encouraging to see that consumers are looking to be more energy efficient or swap to a cheaper deal to save money. However, with only two of the big six energy giants having shown their hand, I advise all those looking to secure an online deal to wait until we know how the land lies and once the full bout of price rises has taken place.
"However, competitive fixed rates are making a comeback with the recent launch of Scottish Power's Fixed Price Energy 2009. This is a good option for those looking to protect their payments against future price hikes but I'd recommend you to be quick as good fixed rate tariffs don't hang around the market for long."