We are deeply concerned about the impact of today’s announcement about the sharp rise in the energy price cap.
Roni Marsh, our Money Advice Team Leader, commented:
“A lot of our clients are already struggling with the costs of their energy bills. Any price rise at all would hit them hard so the announced 54% rise on the energy cap means that many more of them will have to make the choice between heating and eating.
“In my 20 years of giving debt advice, I have never seen it so bad. All our clients are already struggling financially so this latest announcement, together with the rise in the cost of living which impacts those on the lowest incomes the most, and the increase in National Insurance contributions, creates a perfect storm for millions. I expect to see more people needing crisis grants from the council, more people approaching charities for help and more families relying on foodbanks just in order to survive. Something has to be done because it’s simply not sustainable.”