We’ve found that energy prices are the biggest worry for consumers. But if so many of us are worried about how much we’re paying for our gas and electricity, why aren’t more of us switching suppliers?
Our latest consumer tracker data has found that more than eight in 10 people are worried about energy prices, making energy the top consumer worry above fuel and food costs.
Last weekend we published research testing Ofgem’s proposed system for comparing energy tariffs against our ideal system using a single unit price. As well as asking energy customers to compare the two systems, we also asked them about their attitude to energy bills and switching.
So many of us could save money by switching to a different energy supplier or tariff. But more than half of the people we spoke to have never compared their tariffs with others on the market to check if it was worth switching. Only a quarter of people had switched supplier in the last two years.
Most concerning of all – almost six in 10 could not even find their energy bill to see what tariff they were on.
Finding the energy to switch
Do you know where your latest gas or electricity bill is? If not, perhaps you’re one of the people who simply aren’t interested in the price they pay for energy. You receive your bill, pay what you owe and get on with your day.
I’d been putting off switching my energy supplier, because I expected the process to be a huge hassle. Mainly because my flat is rented and I knew I’d have to check with the landlord before making any changes. In the end, my landlord was fine with me switching and the whole process is due to be completed by early next week. I couldn’t believe how straight forward it was.
Switching suppliers to make substantial savings
Of course, switching doesn’t always go smoothly and we are often told about meter mix-ups and final bill disputes by disgruntled energy customers. But I think in most cases it is definitely worth the effort, especially if you stand to save money on your bills.
Of the quarter of people who switched supplier in the last two years, seven in 10 of them did so to save money with a cheaper deal. If you are on a standard energy tariff and haven’t switched for a long time (or even never at all), you could save upwards of £200 on your annual bill.
I don’t know about you, but I think that £200 for half an hour’s work is a pretty good deal.
Do you know where your most recent energy bill is?
I have paperless billing (52%, 125 Votes)
Yes (44%, 107 Votes)
No (4%, 10 Votes)
Total Voters: 242