A new British ‘league table’ of the most expensive and lowest cost household gas and energy suppliers is published today to encourage people to switch.
Announcing the move, British energy and business minister Greg Clark said the table is aimed at increasing transparency on the numbers of people on expensive standard variable tariffs,
Compiled and published by OFGEM, the table will compare the average energy bill paid by someone on a standard variable tariff for the larger energy companies with the deals available from the 10 cheapest suppliers – giving consumers the information they need to switch and save.
As part of ongoing work to ensure all consumers are treated fairly and get the best deal from their energy suppliers, the government is also launching a call for evidence on implementing better access to customers’ energy use data to make switching easier and ensure families get the best deal for them.
This will ensure bill payers can access accurate electronic data on how much energy they use and share this securely with price comparison websites to help them tailor quotes to individuals, based on their actual energy use. It will also help consumers identify with greater accuracy the money they could save by switching.
Clark said: “Millions of people across Britain continue to pay too much for their energy. The measures announced today are a positive step to help more people benefit from increased choice and competition.
“As the Government has made clear, where markets are not working for consumers – in energy or otherwise – we are prepared to act.”
Gillian Guy, Chief Executive of Citizens Advice, commented: “This league table will lift the lid on the price difference between standard tariffs and cheaper deals, helping those customers who are currently paying over the odds for their gas and electricity identify a better rate.
“We’d also like to see energy companies do more off their own back to help customers who are on a low income, like moving them to a cheaper deal.”
The British energy ‘league table’ can be viewed on the OFGEM website.
Four million take up the power to switch in 2016
Meanwhile, more than four million customers have switched their electricity supplier in 2016, eclipsing the past three years of switching data produced by Energy UK.
November saw switching stay above 400,000 with more consumers looking to take advantage of the variety of deals available. This similarly is the highest figure seen since November 2013.
Lawrence Slade, Chief Executive, Energy UK said: “A record number of people have switched electricity supplier in 2016. This is fantastic progress, but more needs to be done.
“There are now more than 40 companies across the industry, big and small, are working hard to win customers.
“With the Energy Switch Guarantee now in place, customers can be more confident to switch supplier. I’d encourage everyone to look at the best deal for them, whether that is one that offers a lower price or better customer service, there are choices for everyone.”