Brits 'relying on savings' to pay energy bills
26/9/2011

Brits are finding it increasingly difficult to cover the cost of rising household energy bills, it has been revealed.

Conducted by MoneySupermarket.com, a survey revealed 42.4 per cent of people will have to use their savings to pay for fuel every month.

While 11.6 per cent claimed they will use their credit card to cover some of the cost, 16.9 per cent said they will use their overdraft.

The most recent round of energy price increases has added an average of £155.75 to the cost of bills every year, the comparison website continued.

Energy manager at MoneySupermarket.com Scott Byrom said: "UK households are being pushed to the limit at the moment, so it's no surprise to see so many turning to their savings to make ends meet."

Those in retirement could get help, however, as Confused.com recently noted government grants are available to those over the age 70 to cover the cost of installing loft and cavity wall insulation.

© 2010 Adfero Ltd. All rights reserved. Any views and opinions expressed in news articles are not those of Just Retirement Limited. News supplied by Adfero DirectNews.

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