Families up and down the country are potentially wasting hundreds of pounds a year by not switching to a more suitable energy provider.
A recent investigation carried out by The Sun found that six in 10 households have never changed their energy supplier and are forking out a massive £150-£300 unnecessarily each year.
The same investigation revealed that the number of households who have changed their gas or electricity supplier has fallen by more than half in the last four years.
Just 746,000 customers changed their energy firm in the first three months of the year compared to 1.5 million who switched over a similar period in 2008. A number of UK households are not taking advantage of the cheaper tariffs which are widely available.
The number of people who changed their gas provider fell from 1.14 million to 533,000.
Many feel that energy companies are ripping-off customers as high pressure sales techniques force customers to sign up to deals which are more expensive.
By shopping around for a cheaper deal, households might not be as susceptible to signing deals without considering other options.
The Sun’s investigation found that, on average, families could save £123 a year by finding a more suitable tariff for their circumstances. Despite this, many have lost faith in the energy market and are staying on tariffs which cost them more in the long term.
The UK’s ‘big six’ energy suppliers, who together dominate 99% of the consumer market, could soon be locked in a pricing war. This could be good news for households looking to switch providers as prices could fall further from the gas and electricity price reduction seen earlier this year.
Scottish Power recently held the title as the market’s cheapest provider with Online Energy Saver 20, however, First Utility recently launched the iSave Fixed V3 which is, on average, £12 cheaper.
Asda Money could help you find the cheapest available tariff with the Asda Energy Compare & Save Service.Back to top