Research has revealed that two thirds of Brits are worried about how they are going to pay extra bills for gas and electricity consumption in the future. Find out how to lower your gas and electricity bills now.
Scottish Power recently announced increases to the cost of standard gas and electricity of 19 per cent and 10 per cent respectively. Whilst this rise has indeed been talked about for the last couple of months the size of it has taken everyone by surprise.
For an average household, the increase is going to add around £175 to the annual bill – but for some, either with heavier than average use or in larger homes, the price rises will be higher still.
The amount of money we pay out on gas and electricity bills has more than doubled in the last 10 years, and many households already struggling under tough economic conditions will be left reeling by the increased bills for energy consumption.
And while Scottish Power have increased costs, there will undoubtedly be another bout of price increases from other energy suppliers soon, too, little wonder then that many cash strapped households, including tenants, are turning to unsecured loans to help make ends meet.
A poll of 1157 moneysupermarket users found that 32 per cent of energy customers are worried they won’t be able to afford to heat their homes this winter if the remaining five of the ‘Big Six’ energy giants are true to form and also announce increases to their prices.
“Our advice is if you can’t afford price rises of this scale fix your tariff now – EDF and nPower have some of the cheapest fixed deals over a year, whilst EDF also have an attractive fixed tariff stretching out to 2014 if longer term stability is desired – however these deals are unlikely to be around for long,” said money saving expert Mark Bower from website moneymaxim.
“Last time prices started moving upwards it was the fixed price tariffs that disappeared first.”
Making cutbacks and budgeting is the most effective way to manage your expenses. Unfortunately, however, budgeting is not always enough. Unsecured loans are available to give you access to the funds you may require.
As with any form of borrowing, it is important to ensure that you are able to meet repayments and fully understand the terms and conditions attached to your loan.