Uswitch comments on Ofgem data showing proportion of energy supplier customers on expensive tariffs

Ofgem has today published new datacomparing how much customers on standard variable tariffs with each supplier could save by switching to a cheaper deal. Commenting on the data, Uswitch.com energy expert, Claire Osborne, says: “These figures underline, yet again, that loyalty in the energy market simply doesn’t pay. The incredibly high proportion of customers on the most expensive tariffs at many suppliers – notably SSE, Utility Warehouse, British Gas and E.ON – will raise eyebrows.

“While the number of consumers switching is rising, far too many are still unnecessarily paying through the nose. The publication of this data will now put additional pressure on the industry, as well many specific suppliers, to do far more to help customers cut sky-high bills.

“Competition is key to making the market work better for consumers, lowering bills and improving service. The CMA spent two years closely examining the energy market – now the industry, Ofgem and Government must continue to implement the CMA’s final package of remedies to give them the proper chance to succeed.

“Switching levels – a key indicator of competition – are still well below those in 2008 when 20% of consumers were moving to better deals each year. To really kick-start competition between suppliers and bring bills down, we believe Ofgem should look to set a 25% switching target by 2020.”

Find out how you could save over £1,000 a year with Uswitchhere.

FOR MORE INFORMATION

Jason Wakeford

Phone: 0203 872 5612

Email: jason.wakeford@uswitch.com

Twitter: @UswitchPR

About us

It’s all about “U”!

Thank you for indulging us over the last 20 years by using a small ‘u’ and a big ‘S’ when writing about our brand in your articles.

We are delighted to let you know that you are now off the hook - it’s big U’s all the way (and small s’s) as we undertake our biggest ever rebrand - so let your autocorrect go wild!

About Uswitch

Uswitch is the UK’s top comparison website for home services switching. Launched in September 2000, we help consumers save money on their gas, electricity, broadband, mobile, TV, and financial services products and get more of what matters to them. Last year we saved consumers over £373 million on their energy bills alone.

Uswitch is part of RVU, a new business that also owns Money.co.uk and Bankrate.

If you would no longer like to receive our press releases please email prteam@uswitch.com with 'unsubscribe'.