Utility meter move ‘could aid debt management’

Plans to implement ’smart’ energy meters across Britain could help consumers with their debt management, it has been revealed.

Set to be unveiled this week by Trade and Industry secretary Alistair Darling, the move will see consumers receive a more accurate account of how much power they are using and how much it will cost, reports the Mail on Sunday.

As a result of being able to track their consumption either by kilowatt-hours or in pounds, consumers could make savings on their gas and electricity bills - this in turn may help them manage their debts and make loan repayments with greater ease.

A spokesperson for utility watchdog energywatch told the publication: "Smart meters that show energy use will lead to less usage of energy and give accurate billing information for the first time."

Earlier this week, Karen Darby, founder of SimplySwitch.com, claimed that changing to a standard credit meter could help many consumers with debt management.

She claimed that with three million Britons struggling to pay their utility bills, a change from a prepayment meter could help avoid "fuel poverty" and increase the ability to make personal loan repayments.

Interfinancial providing you with breaking debt management news.