UK Money News
28th July 2008
Hikes to fuel surge in fuel poverty
The impending round of energy price hikes will push around half a million Britons into energy poverty, it has been claimed.
Energywatch, the sector watchdog, issued the projection in the wake of EDF Energy confirming it is to raise its gas and electricity tariffs by 17 per cent and 22 per cent respectively by the end of the month.
Fuel poverty is defined as when a consumer spends ten per cent of more of their income on energy costs.
Official government figures currently put the number of Britons facing this situation at 2.5 million.
However, Energywatch claims that the true figure is more than four million.
All of the UK's big six energy providers, which supply power to 95 per cent of the market, are set to unveil price hikes over the next few weeks.
The soaring price of wholesale energy has been cited by the firms as justification for increasing their prices.
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