Secured loan 'may be necessary to pay energy bills'
28/07/2008The increase in energy costs being paid by Britons may be so steep people have to take out a secured personal loan.
Price comparison site uSwitch.com has commented that the hikes in prices customers have been told to expect are becoming a reality.
It commented on EDF Energy's move to put up gas costs by 22 per cent and electricity by 17 per cent with immediate effect.
And industry insiders have predicted that a further 40 per cent rise in energy prices can be expected by the end of the year.
Ann Robinson, director of consumer policy at uSwitch.com, declared that "the days of cheap energy are over".
"We are another step closer to seeing the largest ever increase in household energy bills in one year - we are potentially looking at a 61 per cent or £555 increase in total this year," she said.
Meanwhile, money charity Credit Action has revealed that the total amount of personal debt in the UK has reached more than £1.4 trillion.
 © Adfero Ltd
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