Consumers owe £1.3bn to energy suppliers, two months before bills are set to jump by more than 80%; markets eye US inflation
Emma from Kent was on BBC radio 4’s Today programme, talking about how she’d been trying to clear her energy debt and saying that thing would become “unbearable for so many families”.
As much as I’ve paid off a fair amount so far, I’m not going to be able to clear the outstanding amount before winter comes. With the energy prices going up in October and then even more so in January this winter is going to be tough.
I was working towards a better future and hopefully not repeating the Christmases we’ve had for the past two years. Last Christmas we were averaging a food shop once every 10 weeks if we could… I was hoping that with us both working full-time we wouldn’t have to go back to a food bank. I guess never say never. It’s going to be unbearable for so many families and to be honest I’m dreading it.
Energy debt has hit an all-time high with the worst possible timing, turning this winter’s energy price hike into a deeply precarious situation for many households.
This is an alarming situation, as summer is traditionally a time when households are using less power for heating, which helps bill payers to build up energy credit ahead of the winter.
9am BST: Italy inflation for July final (forecast: 7.9%)
1.30pm BST: US Inflation for July (forecast: 8.7%, previous: 9.1%)
5pm BST: Russia inflation for July (forecast: 15.3%)
