13.6 million British households did not change energy supplier last year, missing out on savings.
Figures from OFGEM show that savings of around £300 this year are achievable just by switching, but a new Ipsos MORI survey from the Energy Saving Trust has found a large number of households are on ‘Energy Autopilot’. Nearly 60 per cent of those non-switchers believing they’re on the cheapest energy tariff available, which is unlikely.
And that’s despite only 30 per cent of all bill payers believing energy suppliers actively encourage customer loyalty.
By contrast, we are more than twice-as-likely to change home insurer than we are energy provider – with 24 per cent of households having switched at least four times in the last 10 years.
The figures have been revealed ahead of Big Energy Saving Week, a UK-wide campaign between the Energy Saving Trust, Citizens Advice and the Department for Business, Energy and Industrial Strategy (BEIS). Running from 31 October – 6 November, events will be held throughout the UK to offer advice on reducing energy costs and help people keep their homes warm ahead of winter.
An online price comparison tool from Citizens Advice can help bill payers find a cheaper supplier. Completely impartial and including quotes from all energy suppliers it offers a quick and easy way to see if you can unlock a better deal.
Philip Sellwood, CEO of the Energy Saving Trust, said: “Many bill payers are missing out on substantial annual savings because they assume they are on the best tariff without actually checking. Prices fluctuate every year, so by not switching and being on ‘Energy Autopilot’, consumers may be sleepwalking towards having less money.”
Minister for Consumers Margot James said: “Millions of people have already switched and saved this year, but we know that some people can find it difficult to find the best deal. Big Energy Saving Week will help people up and down the country find out how they could save on their energy bills, many could save around £300, as we create a country that works for everyone.”
Gillian Guy, Chief Executive of Citizens Advice said: “Switching gas and electricity can help people cut their bills.
“Checking their current tariff and comparing prices regularly means people can spot the best new deals and switch to a supplier that gives them the best value for money.
“Citizens Advice will be hosting events in local communities throughout Big Energy Saving week, where people can learn how to save energy, insulate their homes and compare prices to minimise their bills.”
Big Energy Saving Week provides advice to people over the telephone through the Energy Saving Advice Service on 0300 123 1234, or face-to-face at hundreds of events being held across Britain. To find an event near you, log on to bigenergysavingweek.org.uk
To see how much you could save on your energy bill, the Citizens Advice price comparison tool can be found at energycompare.citizensadvice.org.uk.