Two-thirds suffer in energy rip-off
Variable tariff customers pay extra £2.5bn a year
6The boss of Dixons Carphone
yesterday admitted he is set for a “nail-biting” Christmas.
The retail chain reported a 4% rise in same-store sales in the past six months but chief Seb James said the company is planning for uncertainty, adding: “We have no idea what will happen next year. We’re just going to roll with it.”
Analysts warn it faces hits from Brexit and rising inflation. Its shares were down more than 6% yesterday.
BRITAIN’S energy giants are pocketing an extra £2.5billion every year from unsuspecting customers.
That’s because millions of people are on standard variable tariffs – the most expensive way to pay for gas and electricity. And energy watchdog Ofgem has published new figures which reveal the staggering extra cost to consumers.
Its comparison table of the 11 biggest suppliers shows that almost 20million people – two-thirds of households – are paying rip-off prices for gas and elecricity even though they could save hundreds of pounds a year by sticking with their existing supplier.
Ofgem reckons 1.7million Npower customers could save £261 a year, for instance, while 6.6mil lion British Gas customers could save £129.
Of the Big Six energy suppliers, SSE has the wost record for leaving customers languishing with higher than necessary bills as 91% of its customers are on its expensive variable tariff.
But that shaming number is topped by independent supplier Utility Warehouse which has 94% of its customers paying over the odds. “There is no justification whatsoever other than wanting to boost their profits for the Big Six to have so many customers on these deals,” said Edward Molyneux of TheBigDeal. Ben Wilson of GoCompare added: “Standard tariffs shouldn’t be the default dumping ground for 20 million households.” To cut bills people just need to move to their supplier’s fixed rate deal. A simple phone call is all it takes. Table turned on the Big 6