October energy bill hike to push 400k more homes into fuel poverty

UK
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From 1st October, around six million UK households are expected to be in fuel poverty, according to figures from National Energy Action.

This marks an increase from 5.6 million households currently affected.

The new price cap announced by Ofgem will result in a typical annual energy bill of £1,717, which is 9% higher than the current rate.

This rise comes as many pensioners miss out on the Winter Fuel Payment, including those who do not qualify for means-tested benefits or who are eligible for pension credit but do not receive it.

Energy bills had decreased slightly over the summer, but the upcoming increase will coincide with the colder months when energy usage typically rises.

Energy debt has also reached record levels, with customers owing over £3 billion.

National Energy Action highlights the need for all eligible households to be enrolled in means-tested benefits to access energy bill support.

National Energy Action Chief Executive Adam Scorer said: “Struggling households are in the third year of an energy crisis. Even before the crisis, our clients had no slack in their budgets. Three years on, they are mired in record levels of energy debt and severely rationing their energy.

“There is still time for Ofgem and UK government to act for those at greatest risk, but without support, this winter.

“Actively reduce their levels of debt and extend support beyond the hard edge of means-tested benefits.

“Government says it can only stretch the financial elastic so far, but they are cutting off support from those who have zero flexibility in their own budget, with no choice other than debt or going cold.”

The post October energy bill hike to push 400k more homes into fuel poverty appeared first on Energy Live News.

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Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor.   He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino. Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.