Figures from OFGEM show that nine million households across the UK – more than a third (35%) of all households – failed to change gas or electricity provider between 2012 and 2017.
Starting today, Big Energy Saving Week is a nationwide campaign from the Energy Saving Trust, Citizens Advice and the Department for Business, Energy and Industrial Strategy (BEIS) which helps households lower their annual spend on energy.
An online price comparison tool from Citizens Advice can help bill payers find a cheaper supplier.
The comparison tool is completely impartial and includes quotes from all energy suppliers, offering a quick and easy way to find the best deals.
And while a YouGov survey carried out for Big Energy Saving Week reveals 41% of us will visit multiple supermarkets to ensure we get the best deal on our weekly shop, we are not being as savvy with our energy suppliers, with millions of households remaining on the more expensive Standard Variable Tariff (SVT)3, despite better deals being available.
Philip Sellwood, Chief Executive, Energy Saving Trust, 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.
“With January being a tight month for household budgets, now is the time to look at switching your energy tariff to make sure you’re on the best possible deal.”
A YouGov survey carried out as part of the campaign also revealed that:
- 65% of people would read reviews when planning to spend £1,000, but only 16% read any reviews about their new energy supplier or tariff when they last switched, with the average dual fuel bill £1,123
- A third of people (33%) believe there’s no point in switching because ‘all suppliers are the same’
- One in five people (20%) are unaware or don’t know there are ways to switch supplier other than online
Business and Energy Secretary, Greg Clark said: ““Big Energy Saving Week highlights how much money people can save simply by changing their energy supplier and taking action such as installing a smart meter.”
22 Jan 2018