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Annual energy statements could help billpayers stay out of debt

Consumers could save as much as £1,000 on their energy bills over the next five years following the introduction of annual energy statements, according to uSwitch.com.

Energy providers now have until 1st December to provide all customers with their annual energy statement, which is designed to clear up some of the confusion many billpayers experience over their bills.

The statements will provide details of their current plan, annual consumption and how much they are likely to pay over the course of the year. They will also let customers know if they can switch to a better deal.

A debt expert at the IVA Advisory Centre said: "A lot of people have fallen into debt on their energy bills in recent years due to prices going up without their monthly payments being adjusted accordingly.

"At present, customers can go months without realising they`re not paying enough - in which time a lot of debt can build up. The annual energy statements should give billpayers a better understanding of how much they should be paying.

"That said, it`s always a good idea to check meter readings regularly and ask your energy provider if you are paying enough."