Sky News Daily
Bills, bills, bills: How can you beat the hikes?
Apr 1, 2025
In this discussion, Paul Kelso, Sky News business correspondent, shares his insights on the accelerating household costs driven by recent economic shifts. He explains how global events, like the Ukraine war, impact energy prices and anticipates drastic hikes in various bills. The conversation also highlights smart strategies for managing expenses, such as switching service providers and negotiating rates. With rising costs affecting families, Kelso underscores the importance of proactive financial planning and seeking support from organizations like Citizens Advice.
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Quick takeaways
- Energy bills have surged by 60% to 80% since pre-Ukraine war levels, severely impacting household finances amidst rising costs.
- Households are encouraged to actively reassess their budgets and explore switching providers to reduce the financial impact of increasing bills.
Deep dives
Rising Energy Costs
Energy bills are set to rise significantly, impacting household budgets. On average, consumers will see an increase of £111 for those on variable energy rates, following the energy price cap adjustments. Compared to pre-Ukraine war levels, energy prices have surged by 60% to 80%, which creates a substantial strain on finances. Households must prepare for continuing fluctuations as forecasts suggest potential future increases in energy costs despite some temporary relief.
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