Energy bills have gone up by 40 per cent over the past five years for the average family
The average family is paying 40 per cent more for their gas and electricity bills than they were five years ago, research has shown.
According to an annual survey of household bills carried out by Comparethemarket, people are now paying an average of £1,813 a year, compared to £1,289 in 2015.
The increase of £524 over the five year period means energy bills have gone up at more than three times the rate of inflation since 2015.
It also means the average household is now paying £107 more for energy than a year ago despite the introduction of the energy price cap.
According to The Times the cap, which was intended to bring down the price of the most expensive deals, has led cheaper companies to raise their fees.
Simon McCulloch, director at comparethemarket.com, said: “A lot of attention during the general election was devoted to financial difficulties that many people face around the UK.
“These statistics are a stark reminder of not only the high cost of essential services, but of the huge increases that have been seen in the past few years.
“The average cost of energy and motor and home insurance is now £675 higher than in 2015.”
READ MORE FROM YAHOO NEWS UK:
‘Pay up or else’ threats over unexplained Extra Energy bills
Net zero carbon neighbourhood to be built in south Wales
Energy bills for millions of households to fall after gas prices halve
Households in London are reportedly paying the most for their bilss at £3,129 a year - more than £400 above the national average.
The West Midlands was second at £2,910, while the cheapest region was Scotland, where households spent only £2,470 every year on bills.
Mr McCulloch recommended that families shopped around to combat the rising bills.
“With the average saving for these products standing at £482, shopping around clearly goes a long way to mitigating the dramatic bill increases we have seen in recent years,” he added.
