Energy bill warning for personal loan customers

Tue, 22 May 2007

Consumers who are reliant upon personal loans to pay their energy bills may be interested to learn that they could unwittingly be paying too much for gas.

According to research from financing website moneysupermarket.com, approximately 29 per cent of gas bills across the UK are derived from out-of-date meter readings and estimates.

Moreover, the financing portal claims that 61 per cent of customers pay for gas automatically via direct debit, which potentially means they might not be paying close attention to how much they are shelling out.

Paul Schofield, head of utilities at moneysupermarket.com, has told personal loan customers that it is important to ensure energy suppliers are not using outdated readings.

"Gas customers have suffered expensive bills for too long," he said.

"If you haven't had your meter read or provided a reading yourself, you won't see the savings you deserve."

Recently, a host of energy companies have cut gas and electricity tariffs in response to falling wholesale costs.

For instance, British Gas claims to have been the first utilities firm to slash prices twice during the course of 2007.

Scottish Power and Powergen have also cut tariffs, which may have come as a relief to many personal loans customers.

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