New Buzzterm: Energy Poverty

Price rises set to pull 1m more households into energy poverty

Another million households could be plunged into fuel poverty this year if Britain’s energy suppliers go ahead with further price rises.

Fuel poverty, defined as needing to spend 10 per cent or more of total household income on energy, now affects 4.5 million households – roughly one in five.

A series of fuel price increases this year has increased that figure by 500,000, despite a Labour Party promise to eradicate the problem altogether by 2016.

But with global energy prices continuing to soar, the campaign group National Energy Action claims that fuel poverty will rise to 5.5 million if energy companies implement a further 25 per cent increase in bills.

Emphasis added by me.

Just ten per cent?

I’ve seen fuel bills this past winter — not mine, thank god! — that were the size of American monthly mortgage payments.

Explore posts in the same categories: C.O.A.T. - Other, Depression 2.0