End of cheap energy could fuel downsizing trend

28 August 2008

The days when Britons could easily afford to heat their homes are over, the business secretary has warned.

Speaking as pressure mounts on Downing Street to introduce a windfall tax on the massive profits achieved by UK gas and electricity companies, John Hutton has explained that the country has enjoyed cheap energy for too long and now has to get used to higher prices.

As such, those with large homes may choose to downsize properties, particularly as the typical heating bill for a large home is now likely to top £1,000 a year.

"The era of cheap energy is over," Mr Hutton said in an interview with the Daily Telegraph.

"The question is how are we going to adjust to that and what sort of help can we provide to those who are going to struggle the most."

Those Britons looking to guard against further utilities price rises and opting to move to a smaller home could make use of safe storage facilities so that they are able to hold on to their possessions.

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