Brits could save £314 per year by switching energy suppliers, Moneysupermarket.com has found.
Utilities bills could be slashed by hundreds of pounds, making a total saving of £3.5 billion a year, if Brits switched to cheaper energy suppliers or tariffs.
It is really straightforward to switch energy supplier, and is probably easier than you think.
Moneysupermarket.com, one of the leading price comparison sites, has found that bill payers remaining on their suppliers standard tariff and paying quarterly by cash or cheque, £250 per year, on average.
Switching to the best online energy deal and paying by monthly direct debit can bring instant savings to householders who are willing to change energy provider.
The research by Moneysupermarket.com shows that the gap between the best and standard energy deals is widening so it pays consumers to find the best energy deals, particularly with the winter weather starting to bite.
Last year the difference between the best and standard deal was £178 on average and this has increased by £72 or 40 per cent to £250.
Loyalty to your energy supplier clearly doesn’t pay, as pointed out by Scott Byrom, utilities manager at moneysupermarket.com, who said “”While the cost of online energy deals has fallen this year after a raft of price cuts, a freeze on the cost of standard energy tariffs means those bill payers languishing on these tariffs are being penalised even further.”
“It is worrying to see the gap between payment methods widen so rapidly, but provides a clear call to action for bill payers – apathy won’t be rewarded here so taking action and swapping to the best deal possible is crucial.”