person in the UK looking at their power bill created by Grok on X
Ofgem has announced that consumer energy debt in the UK has reached £3.7 billion, a significant increase of £400 million from the previous quarter.
This latest data indicates a 12% rise in energy debt and arrears between the first and second quarter of 2024, up from £3.31 billion to £3.7 billion.
The current level of debt has grown by nearly 50% over the past year, with a 43% increase observed from the second quarter of 2023 to the second quarter of 2024.
Peter Smith, Director of Policy and Advocacy at charity National Energy Action, said: “It’s hugely alarming to see levels of energy debt continue to spiral upward, up £400 million in just one quarter.
“This is a stark consequence of unaffordable energy bills. Without a significant intervention by the government and energy regulator, it will only get worse – with higher bills and less support available this winter.
“Only by directly reducing the most vulnerable customers’ bills as a priority and helping them to pay off these unmanageable debts can we avoid shattering people’s personal finances and badly damaging their health and wellbeing.”
The post UK energy debt reaches £3.7bn appeared first on Energy Live News.
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