Energy bills cuts 'too small to help many with credit card debt'

Those worried about credit card debt will have received less help from recent cuts in energy bills than they expected, a group has warned.

Figures published by moneysupermarket.com have shown that three quarters of Brits have been struggling to pay their utility bills, with one in five finding themselves unable to heat their homes.

Scott Byrom, utilities manager at moneysupermarket.com, warned that many of those struggling with credit card debt and other financial problems suffered due to the cold this winter.

"While we have seen providers beginning to reduce their prices, these cuts have unfortunately been a drop in the ocean," he stated.

He added that the fact many of the cuts in price do not come into force until the end of the month simply adds insult to injury.

Earlier this month, figures published by Scottish Widows showed that one in three consumers are too focused on paying down their debts to put money aside for the future.

Posted by Martin Peacock