Over 400,000 Scottish households already struggling with energy costs – before prices rise
November 19, 2013
It’s likely that your energy provider will have recently announced its upcoming winter price hikes. As many residents in Scotland and the rest of the UK struggle to make ends meet, this will no doubt be unwelcome news.
Following announcements of planned price rises by many energy suppliers, the Debt Advisory Centre in Scotland revealed figures which show that over 400,000 Scottish households are already in energy debt. With the cost of winter and price hikes looming, this number looks certain to rise.
At the time the Debt Advisory Centre’s figures were produced, the majority of energy companies had all announced plans to increase their charges above the rate of inflation, with some exceeding 10%. Speaking on behalf of the Debt Advisory Centre, Ian Williams, said: “We have just come through a relatively warm summer, so it’s worrying that such a large number of people are already having difficulties paying their energy bills.
“As winter sets in, more people are likely to find themselves struggling to pay their gas and electricity providers, while those who are already in energy debt could find their problems getting much worse.”
The number of households currently struggling with energy bill arrears has doubled in just six months and with predictions of a tough winter on the way, more households are likely to plunge into debt as the situation deteriorates.
Member of the Energy and Climate Change Select Committee and Labour MP for Glasgow North West, John Robertson, has called for energy companies to back up their claims that the price rise is unavoidable, by offering access to their company accounts. He said: “We want to find out what’s going on. It’s unbelievable that every time there’s a rise they all jump on it.”
Ian Williams expressed concern for older people and young children, suggesting that for many it was a case of choosing between “eating or heating” and that putting on extra layers simply might not be enough.
If your energy bills are spiralling out of control and you’re worried about how you will cope with the extra charges, call our knowledgeable advisers at Scotland Debt Solutions today. Our debt experts can offer you impartial advice on the best solution to stay in control of your finances.
The start of a new year is the perfect time to take stock of your finances and put plans in place for a financially savvy year ahead. While you may feel your problems are insurmountable, there are always things you can do to help, most of them surprisingly easy. Here are 7 ways you can […]
If you have credit card debt which is attracting a high level of interest, moving this balance onto a lower interest card could save you a considerable amount of money. This process is known as a ‘balance transfer’, and if done correctly, this process could save you money and also reduce the time it takes […]
Many thousands of young Brits are being actively encouraged towards taking on debt and spending borrowed money even before they reach their 18th birthdays. That’s according to the price comparison website comparethemarket.com, whose research suggests that roughly one in four 16 and 17 year olds in the UK have been offered credit cards or asked […]
If you’re in serious debt with no hope of repaying your unsecured creditors, you don’t have to wait for a creditor to take legal action against you. You may be able to take matters into your own hands and apply for sequestration (bankruptcy in Scotland). This also prevents your situation from worsening. There are two […]
If you’re looking to save some money it’s a good idea to make a detailed budget that lets you see where your cash is currently being spent, and offers an overall view of your finances. You’ll need to collect together your income and expenditure details, including annual costs such as insurance, car expenses, birthdays and […]
Scotland has a number of formal debt solutions that can help you deal with a difficult financial situation. It’s advisable to take action as soon as possible, however, to prevent your levels of debt escalating when interest and other charges are added. Obtaining professional advice is key in this respect. An approved money advisor or […]