Data show that household debt has already surpassed £1.3 billion.
According to Bloomberg, British households owe a record £1.3 billion ($1.5 billion) to their energy suppliers ahead of winter, citing price-comparison service Uswitch.
According to data, energy debts were more than double the level in September as of July. According to the service, approximately 6.5 million households owe providers an average of £206 ($252).
According to the report, household debts have gradually decreased during the summer months since 2018, when a UK price cap was implemented. However, debt increased by 10% this year between April and July due to rising gas and power prices.
"Energy debt has reached an all-time high at the worst possible time, making this winter's energy price hike a deeply precarious situation for many households," Uswitch.com's Justina Miltienyte, head of policy, told Bloomberg. "Even during the summer months, the cost-of-living crisis is already squeezing budgets dramatically, as families struggle with rising bills in all areas," she added.
Earlier this year, energy suppliers issued a warning about a large number of customers who were falling behind on their bills. Since then, wholesale gas prices in the country have more than doubled, setting the stage for millions more to struggle to pay bills this winter.