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More than 4 million fear they`ll be made redundant Consumers took on more mortgage debt in July Debts called in by parents Teenagers `scared of debt` Rising household costs could pressure people in debt Pensions debt may impact workers` retirement funds Welsh young adults `at highest risk of debt problems` Over 50s can`t afford to enjoy retirement because of debts Budget: tackling the nation`s debt Short-term debt: `no need for price control` The cost of clearing debt Education debt Tackling the national debt Number of mortgage deals on offer exceeds 3,000 Almost 5 million take on debt to pay household bills OECD: household debt more than 120% of disposable income Petrol price falls help people in debt Amount of mortgage debt taken on at lowest level in ten years Northern Ireland sees significant IVA rise Overdraft debt `becoming more expensive`

EDF Energy to cut electricity prices for some

19/02/2009

EDF Energy is to cut its standard rate electricity prices at the end of March.

Last Friday (13th February), the company announced that, as of 31st March, some of its standard rate electricity customers would see a cut of up to 12.5% in their bills.

Customers ‘will see a saving for a typical electricity bill of up to £62’ as a result, but ‘the average dual fuel EDF Energy household will see a reduction of £21 per year from energy bills’.

The reduction follows a year of significant increases in the cost of energy, although: “In 2008, we passed on the lowest gas price rises of any of the major utility suppliers,” said Eva Eisenschimmel, Chief Officer, People, Organisation and Brand Performance at EDF Energy.

“Any reduction is of course welcome,” said a spokesperson for Debt Advisers Direct, “but consumers will still be facing noticeably higher bills than they did last year – and not just their gas and electricity bills.

“Gas and electricity are essential expenses – there’s only so much that people can do to cut back on their bills, especially during cold weather. Anyone who’s forced to choose between living in a cold home and getting into debt should seek professional debt advice as soon as possible.”

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Debt Advisers Direct offer free debt advice and a range of debt solutions, including debt management plans, debt consolidation loans and IVAs (Individual Voluntary Arrangements).

More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according