Energy bills have risen at EIGHT times the rate of earnings in the last three years

Energy bills have risen at a rate eight times higher than average earnings over the past three years, according to Citizens Advice.

The charity has found that the ‘Big Six’ suppliers have increased their gas and electricity prices by on average 36 per cent since October 2010, during which time earnings have risen by a measly 4.4 per cent.

Prices have also easily outstripped the rate of inflation as well, almost four times the 10.2 per cent increase in the last three years.
Energy firms have shown no sign of putting a stopper on rises either, with recent announcements seeing rises of up to 10.4 per cent set to come in this winter, and Citizens Advice fears that people are racking up serious debts to pay for their winter energy bills.

Chief executive Gillian Guy said: ‘Enormous escalations in energy prices are creating a desperate situation in many households.

‘People find they do not have enough money coming in to pay for everyday essentials as increases in daily costs are outstripping low rises in earnings.

‘As we head into winter, and the latest price rises begin to kick in, more and more people are likely to reach crisis point as they struggle to heat their homes and feed their families.

‘People should not have to get into debt in order to have a warm home. Energy companies and the Government need to look at how they can reduce the pressure energy bills are putting on people’s finances.’

Energy providers have been attempting to pin the blame for rising costs on green taxes levied by the Government, but energy secretary Ed Davey told the Mail on Sunday today he feels these firms may be ‘too profitable’…

Read more: http://www.thisismoney.co.uk/money/bills/article-2508782/Energy-bills-risen-EIGHT-times-rate-average-earnings.html#ixzz2kwBZKBGq
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