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Energy Bills Are Up 72% since 2006 – And Wages Are Only Up 19%

05-07-2017 Posted by:Victoria Arrington

Energy Bills Are Up 72% since 2006 – And Wages Are Only Up 19%

 

(But Here’s What You Can Do to Fight Back)

Couple overwhelmed by bills

2006 wasn’t that long ago, but it was a much cheaper time to live. That’s because here in 2017, your bills are higher – much higher, with energy being the worst offender by far.

Research from Santander has revealed that electric tariffs are up 72% and gas is up 73% – stretching far beyond the rate of inflation (32%). Most other usual household bills are more in line with inflation, being up by 43%. Average wages have not enjoyed such growth – only increasing a paltry 19% (far below inflation). The same report said:

The Average Person Will Spend £0.5 Million+ on Domestic Bills Over the Course of Their Lifetime

 

The increases are about to get even worse for some, with certain energy customers facing a 51% energy bill increases, as their bargain tariffs are due to finish at the end of July, moving them to higher standard rates. For instance, of the Big 6 firms that have increased their pricing in the last year (which is all of them except British Gas), the average price customers pay has jumped an average of £91*.

There is a solution – Mark Todd, the co-founder of energyhelpline, has some advice: “Gas and electricity is the easiest big bill to switch – taking just 5-10 minutes online – and with typical savings of £200-£300 a year it can make a really big difference to your finances. Pick a one year or two year fixed product to maximise savings.”

More info here: https://www.energyhelpline.com

*Per energyhelpline research, based on Big 6 tariffs published in the last year.


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