Money Box Live: Energy Debt Help

People owe more money for gas and electricity bills than ever before. New calculations from the energy consultancy firm Baringa reveal the average typical energy debt is £1,500 - that's up £300 in a year. The total owed to energy companies is 3.8 billion pounds, which is almost double what it was two years ago.

Energy prices are also forecast to rise by 5% from April, adding £85 a year to household bills meaning a household using a typical amount of gas and electricity would pay £1823 a year.

In this Money Box Live, we're finding out how to manage energy debts and how to avoid getting into the red in the first place.

Ruth Alexander is joined by Matthew Sheeran from the free debt advice provider, Money Wellness, and Eleanor Taylor from Baringa.

Presenter: Ruth Alexander
Producers: Sarah Rogers, Catherine Lund and Neil Morrow
Editor: Jess Quayle

(First broadcast 3pm on Wednesday 19th February 2025)