Bill for £532 million?

18th July, 2005

UK gas customers collectively owe around £532 million in unpaid gas bills, reveals new research.

More than one in three British households have not bothered to update their direct debits to reflect the recent rise in gas prices.

The research shows that when dealing with expenses for the home, for example home insurance payments, it is important to have a regular payment system to avoid large bills.

uSwitch.com reveals today that one in four households had not increased their standing orders to incorporate the gas price increase, while one in eight was unaware that prices had risen.

"The fact that so many households are failing to increase their fixed monthly direct debit payments in line with rising gas prices is worrying, especially in light of recent warnings of further price hikes this year," said Alan Tattersall, head of products at uSwitch.

Setting up a direct debit for home insurance bills, water bills and related household expenditure can make payments seem more affordable.

Because the money automatically leaves owners' accounts every time a bill is due, it means that households will always be up to date with payments.

For something like buildings and contents insurance, homeowers will always be covered against accidents to the home, which can be costly to fix independently.

 

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