One in four borrowing to pay energy bills

Nearly a quarter of people are borrowing to pay energy bills, according to a new poll.

The survey into cost-of-living pressures of 2,180 UK adults, carried out by the Money and Pensions Service (MaPS), shows that 23% have relied on credit or money from family and friends to pay for electricity and gas bills during the last three months.

This is exactly the same proportion as those who say they have had to borrow to buy food over the same period.

More than half (53%) of those borrowing to pay utility bills said they had never had to do so before.

The poll also reveals that 21% of those surveyed believe they will need credit to get through the next three months, with 4% saying they definitely would.

Among the remainder, 7% said it was “very likely” and ten per cent “quite likely” that they will need to borrow to pay for essentials.

With an additional 15% of respondents unable to rule out borrowing for essential bills, MaPS said more than one third (36%) of UK adults could soon be relying on credit to make ends meet.

Caroline Siarkiewicz, chief executive of MaPS, said: “Relying on credit or the generosity of family and friends to put food on the table, heat your home and keep a roof over your head can be a constant source of stress. For millions of UK households, it’s also a daily reality.”

The survey’s findings have been released to tie in with the launch of MaPS’ new campaign to reach people who are struggling with cost-of-living pressures.

MaPS has recently been set up to offer free and impartial money and pensions guidance to the public.