Changing energy firm can save £300 each year

FAILING to switch energy supplier has cost millions of UK households more than £1,500 over the past six years, campaigners have warned.

Despite the chance to save up to £300 a year, a third of people (33 per cent) say they do not see the point of switching as they believe all suppliers are the same, a YouGov poll for the Big Energy Saving Week campaign found.

Ofgem figures show that more than a third (35 per cent) of UK households – or nine million – did not change gas or electricity provider between 2012 and 2017.

The survey found that 65 per cent of people would read reviews when planning to spend £1,000 but only 16 per cent looked at any reviews about their new energy supplier or tariff when they last switched.

Big Energy Saving Week, led by the Energy Saving Trust (EST), Citizens Advice and the Department for Business, Energy and Industrial Strategy (BEIS), aims to help households lower their spending on energy. Philip Sellwood, EST chief executive, said: ‘The difference between the average standard variable tariff and the cheapest deal on the market is significant, but millions of households still aren’t accessing these savings. Switching this year could save you up to £300.’

Citizens Advice is hosting events across the country to help people compare prices. Its own impartial online comparison tool includes quotes from all suppliers.

Citizens Advice chief executive Gillian Guy said: ‘Checking your energy tariff and switching to a cheaper deal is one of the quickest and easiest ways to cut your bills.

‘We know people who stay with the same energy supplier often pay hundreds of pounds more a year for the same gas and electricity. It is too often the most vulnerable and those with the lowest incomes who pay the highest prices for their energy.’

Energy Secretary Greg Clark said: ‘Big Energy Saving Week highlights how much money people can save simply by changing their energy supplier and taking action such as installing a smart meter.’