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Energy Crisis May Have Bigger Impact on Households Than 2008 Crash

  • Energy poverty may affect over half of UK households: Baringa
  • Bad debts increase the risk of suppliers going out of business
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WATCH: UK energy bills are set to surge roughly 80% from October. Lizzy Burden reports.Source: Bloomberg
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More than half of UK households risk being pushed into energy poverty this winter by soaring bills that threaten suppliers with rising amounts of debt that simply can’t be repaid.

The crisis could have a bigger impact on households than the 2008 financial crisis, according to consultancy Baringa Partners. The bleak warning comes as bills are set to surge roughly 80% from October, just as the arrival of colder weather boosts energy demand.