You are here: Home - Household Bills - News -

Four and a half million households in fuel poverty this month

0
Written by:
28/01/2013
Nearly 4.5m households across the country are in fuel poverty this month, making this a small rise since October last year.

According to research by Legal and General’s MoneyMood survey, there are big changes according to results by region.

The number of homes in fuel poverty has risen significantly since October in the East Midlands (up 52%), the South West (up 50%), Scotland (up 35%), South East (up 21%), the North East (up 20%) and Wales (up 10%).

The biggest falls in the number of households saying they are in fuel poverty are in East Anglia (down 46%) and London (down 38%).

Mark Gregory, CEO at L&G Savings, said: “In its inflation report for December the ONS stated increases in gas and electricity bills were one of the main upward pressures on prices.

Several parts of the country have shown a significant rise in the number of homes who now say they are in fuel poverty. The highest percentage, with 1 in 3 households who say they are in fuel poverty is Wales, making this region the worst affected so far.

We believe the cost of fuel is already making balancing household finances even harder for those with lower incomes.

Any further rise in the amount spent on fuel is likely to have a significant impact on how the less well-off households cope with paying bills. We will be monitoring this through the winter to see whether the fuel poverty situation changes.

The Government states that households who spend more than 10% of their income on gas and electricity are classified as in ‘fuel poverty’.

 

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Rail strikes: Your travel and refund rights

Thousands of railway workers will strike across three days this week, grinding much of the transport system to...

How your monthly bills could rise as the base rate reaches 1.25%

The Bank of England has raised the base rate to 1.25% as predicted – the fifth consecutive rise in just six ...

Low-income pensioner? You could gain £3k top-up

Hundreds of thousands of retirees struggling with a low income are missing out on Pension Credit worth £3,300...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week