UK Money News
21st January 2008
Energy price hikes 'could lead to trouble with debt'
Energy price hikes being introduced by a number of suppliers could lead to trouble with debt for many consumers around the country, it has been suggested.
Moneyfacts maintains that with rising food costs and mortgage demands already causing trouble with money for people around the country, the latest energy price increases could "cause financial heartache" for thousands of Britons.
With this in mind, the price comparison firm has called on the energy sector watchdog Ofgem to oblige suppliers to switch their most vulnerable customers to less expensive energy tariffs.
"Whilst Moneyfacts.co.uk encourages everyone to check online and switch to the cheapest deals available, there are people out there who will simply be unable to afford these inflated prices," said Moneyfacts' Andrew Hagger.
"There are many pensioners in the UK who are having to survive on a state pension and scared to turn up their heating, even before these massive price rises."
According to the same personal finance comparison company, last year's returns for pension fund members were at their lowest levels in five years.
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