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£224 energy bill `penalty` increases risk of debt

14/09/2009

Energy customers who choose to pay once a quarter by cash or cheque are paying on average £224 more than people who manage their gas and electricity accounts online, according to a new report.

Research by uSwitch, carried out on behalf of The Telegraph, found that nearly 14 million households are paying over the odds by paying their bills by `traditional` methods.

uSwitch claimed that these customers were being "exploited" and "penalised" by energy companies.

A spokesperson for Debt Advisers Direct said that the additional cost could increase billpayers` risk of falling into debt.

"Energy bills tend to take up a large proportion of a household`s income, so billpayers should do what they can to minimise the cost and reduce their risk of debt.

"Most people find that paying their bills by monthly direct debit works out the cheapest - although customers should still make sure that they submit regular meter readings, which can reduce their risk of being undercharged and getting into debt on their accounts."

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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