MoneyExpert.com: Higher bills motor savings crisis

28 February 2007
As more than six million UK citizens turned to debt consolidation to bring their borrowing under control, according to research from MoneyExpert.com, it appears that one in ten of those raiding their savings over this winter were forced to do so by higher-than-expected utility bills.

As many as 11 per cent of British men were caught out over energy prices in the last three months, the study found.

These results may heighten concerns that too many consumers are too complacent or too disconnected from understanding their bills to protest against prices when they become unacceptably high, or motivate themselves to switch.

On the other hand, critics of the consumer lobby on lower fuel prices indicate that lower fuel bills may not be the best solution from all points of view – 'green' prices could mean higher prices for customers.

As the green agenda becomes increasingly important in political life, protection of consumer interests may not always be the first priority in pricing fuel.

It will be helpful, then, for individuals to get into the habit of checking they are not caught out by unexpectedly high utility bills by regularly checking prices from their providers and thinking through alternatives.

To compare gas prices, click here.

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