Energy debt reaches a record £2.9.billion

Energy debt reaches a record £2.9.billion
Date: 15th Dec 2023
Content Type: News
Nation / Region: Wales

Today, Ofgem has announced energy debt has reached £2.9 billion and may look to recover this by raising the price cap and increasing energy bills.

Matt Copeland, Head of Policy and Public Affairs at fuel poverty charity National Energy Action says:

‘Energy bills continue to spiral and now the amount householders owe has reached record levels – almost £3 billion. Sadly, this is no surprise, with the Chancellor failing to protect low-income households from high energy bills in his Autumn Statement. Ofgem’s response, to increase prices further, may well be necessary. But it will only serve to increase debts and does not address the underlying issues.’

‘There is now a desperate need for the UK Government to step in and to help low- income households clear their debts and make sure bills are affordable. People are already going without energy, heat and light and it’s not enough to stop their debt rising. It’s going to be a bleak and cold Christmas for millions.’

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