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More people using savings to pay energy bills - 11/07/2011

Householders who are having to use their savings to pay their utility bills should look to compare energy prices and switch gas deals to save money.

Tim Nichols, spokesman for Child Poverty Action Group, said recent reports have shown that many consumers are dipping into their savings to pay off bills and debt.

"That's the households that are fortunate to have savings that make that possible, but when we're talking about the low income families who are classified as being below the poverty line or below the fuel poverty line, then we're talking about those families [who] are almost certain not to have any savings," he pointed out.

Meanwhile, the recent price hike from British Gas could add an average of £190 to customers' annual bills, with Mark Todd, director of energy comparison site energyhelpline.com, suggesting that more people switch to fixed-rate deals.

This could save them more than £600 over the next three years, he said.

If you want to find out more about how to compare energy suppliers and save up to £453 in minutes, click here.

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