Energylinx News

January 22, 2018

Not switched energy suppliers in the last 6 years? You've overpaid by £1500

Failing to switch energy suppliers may have cost millions of UK households more than £1,500 each over the past six years. Ofgem figures show that more than a third (35%) of UK households - or nine million - did not change gas or electricity provider between 2012 and 2017.

UK Households save on average £300 a year by switching energy supplier - equivalent to more than a month's worth of food shopping. Despite the possibility of a considerable saving, one third of people (33%) say they do not see the point of switching because they believe all suppliers are the same, a YouGov poll for the Big Energy Saving Week campaign found.

The YouGov survey also found that 65% of people would read reviews when planning to spend £1,000 on a purchase, but just 16% read any reviews about their new energy supplier or tariff when they last switched.

The research is part of the Big Energy Saving Week, led by campaigners to help customers to cut energy bills and raise awareness of the financial support UK households are entitled to.

Led by the Energy Saving Trust, Citizens Advice and the Department for Business, Energy and Industrial Strategy (BEIS) aims to help households lower their spending on energy.

Citizens Advice is hosting local events across the country to help people compare energy prices and will be promoting its own impartial online comparison tool that compare the whole market to find the cheapest deal.

Citizens Advice chief executive Gillian Guy said: "Checking your energy tariff and switching to a cheaper deal is one of the quickest and easiest ways to cut your bills.

"We know people who stay with the same energy supplier often pay hundreds of pounds more a year for the same gas and electricity. It is too often the most vulnerable and those with the lowest incomes who pay the highest prices for their energy."

Philip Sellwood, the Energy Saving Trust's chief executive, said:

"The difference between the average standard variable tariff and the cheapest deal on the market is significant, but millions of households still aren't accessing these savings.

"To put that into context, switching this year could save you up to £300 - equivalent to more than a month's worth of food shopping.

"In other words, if you haven't switched for six years, you've missed out on more than six months of food shopping."

Energylinx offers a free and impartial energy comparison and switching service. You can decide whether to compare the whole market or just suppliers that we can switch you to. It's easy to arrange a transfer online but if you would rather speak to one of our advisors, you can do this by calling 01259 220000.

Posted on January 22, 2018 at 12:13 PM