Price hike by British Gas forces many home owners into poverty

Record high prices for oil have driven up the price of all energy sources including wood, coal and natural gas. As the cost of energy increases more and more home owners are driven into poverty due to their inability to heat their houses in winter.

It is estimated that the latest 15 cent increase from British gas has placed 192,000 home owners in fuel poverty. This company had a 6X increase in profits over last year and yet it has been given the right to raise rates. The 571 million pound profit is obscene in the extreme.

The energy companies are making money off the back of struggling consumers who have no choice but to pay the inflated rates or slowly freeze to death in their dark homes.

More than that, the controversial changes to the pricing structure were not necessary as the company was already quite profitable. The price increase far exceeds the rate of inflation, and it worsens economic conditions for the most vulnerable of the population such as senior citizens living on fixed incomes.

One solution is a Secured Loan from Magic Loans. This can provide cash for emergencies that can arise.

In the past the government has subsidized food and fuel for the struggling poor, but now the emphasis seems to be on cutting taxes and not on helping those in need. As the price of food and fuel continues to increase, more and more families will suffer in dark homes without heat. These views are entirely my own, but this post was sponsored by Pay Per Post.