New data from Ofgem has shown that energy debt has risien 15% year-on-year, hitting a record high of £4.79 billion, marking a 5% increase from the previous quarter.
The number of accounts repaying debt rose by 3% for electricity and 4% for gas. Average debt for those with repayment plans is now £828 for electricity and £679 for gas.
Debt charity, StepChange’s own client data reflects a similar trend. Over the past five years, with the average energy arrears have increased by 79% – an average increase of £1,000 per StepChange client.
The energy price cap is set to rise by 13% in just a few days. The charity warns that without urgent intervention, the situation risks worsening further ahead of winter. StepChange…