There are almost 22 million gas customers and 28 million electricity customers in the UK alone of which 10% gas and over 12% electricity customers have changed suppliers in 2013. An increase in households switching has been observed since the end of 2013 as a result of decreasing confidence in energy suppliers.
Still, this leaves almost 90% of customers that haven’t changed suppliers in 2013 and according to a recent study by OFGEM, nearly two thirds of people have never changed suppliers. But why is that? Is it convenience or do energy suppliers make it more difficult to change than necessary? Do customers think it isn’t worth changing suppliers?
In today’s world it is very easy to compare prices online and we all do this for example by comparing prices for our grocery shopping or our holidays and everything else in between but yet too many of us don’t seem to think comparing energy prices is for them. The energy watchdog OFGEM has concluded in a recent study that the average household can save around £200 on their energy bills a year so according to this alone it is definitely worthwhile considering a switch. Savings could be even higher the bigger your energy usage profile is and the longer you haven’t changed suppliers. Our advice for customers that haven’t changed in the last three years or that have never considered changing suppliers would be to at least compare your current plan and potentially make a switch that could save you hundreds of pounds.
With the cost of living constantly increasing and money saving hard to achieve, we at Switchwise UK want to try and assist with the penny pinching process. That’s why we developed an online Energy Costs Calculator which will provide information on how much energy your household appliances cost to run. Additionally to this, we also have a Gas and Electricity Savings Calculator which can help you compare your current energy bills against trusted energy providers.
We are working towards providing lots of information about how to switch suppliers and interesting facts and tips how you can save money on your energy bills by using energy saving products, renewable energy and of course by switching energy suppliers so make sure you keep checking back for more money saving tips.