Millions missing out on energy savings
Millions of Brits are missing out on savings of up to £200 because they don't bother to shop around for the best deal on their energy bills, new research has revealed.
A new poll conducted by energy watchdog Ofgem found that while more than a third of people (33%) are concerned about their bills, a shocking 62% have never swapped suppliers even once to ensure they are getting the best deal.
Nearly half of consumers (45%) think they couldn't save any money by shopping around.
And a quarter (24%) said they wouldn't bother looking for the best deal as it too much hassle, meaning consumers are paying over the odds for their heating and electricity.
In a bid to change these attitudes – and save cash – Ofgem has launched a new campaign, 'Be an Energy Shopper', that aims to encourage consumers to make sure they do what they can to get the best deal.
It has put together a comprehensive guide, available at goenergyshopping.co.uk, to help people cut through the confusion of comparing energy tariffs and make the process for people easier to understand.
Easier to shop
Dermot Nolan, chief executive at Ofgem said: "We shop and compare prices for many things in life, yet we often don't think to do the same when it comes to our energy bills, even when we could be saving around £200.
"Previously, people found it difficult to compare tariffs and the process too time consuming but the recent reforms have changed things for the better.
"With the introduction of Be an Energy Shopper it has never been easier to go energy shopping and get a better deal on your gas and electricity."
Caroline Lloyd, energy spokeswoman with Gocompare, welcomed the move and added that consumers shouldn't stick to just the Big Six firms when it comes to looking for the best deal.
"There are lots of smaller, independent providers out there too, many of whom are hugely competitive on price as well as the level of service they offer customers," she reminded switchers.
"Switching is easy and handled by the company you're transferring your business to, so if you've never shopped around for energy, or haven't done so in a while, grab your latest bill and see what's on offer."
Meanwhile, the Big Six have committed to halving the amount of time it take to switch suppliers to around 2.5 weeks by the end of the year.