The COVID-19 outbreak has already had a significant impact on household finances, especially those that already struggle with the costs of essential services. But there is a bigger gathering storm. Existing debt issues within the water and energy sectors are being badly exacerbated by the current crisis, and whilst welcome, current provision is not adequate to deal with the scale of these challenges.
The responsibility for debt clearance is shared. It lies with the household with whom the debt is attributed but also with the companies with a vested interest in reducing debt levels, with the
regulators and with government.
National Energy Action (NEA) has captured the impact of COVID-19 on the low-income and vulnerable customers that we support. The insight from those households demands immediate and longer term actions from governments, regulators and companies.