Commenting on Ofgem’s supplier standard variable tariff league table published today, Richard Neudegg, Head of Regulation at uSwitch.com, says: “We’ve long been championing for households to get off these expensive standard variable tariffs and it’s encouraging to see more consumers taking control of their energy bills.
“However, these figures raise serious questions around why there are significant differences between suppliers, and if some could do more to engage their customers. There are huge savings on offer for households who switch – the difference between the cheapest deal on the market and the average standard tariff is £324.
“Suppliers should be reaching out to all customers, but it is right that Ofgem introduces targeted regulation to protect the most vulnerable. Ofgem’s proposals to extend price protection to an extra two million vulnerable households in time for next winter will be a welcome move for many.
“Focusing protection on the most vulnerable customers and helping more people engage is the only way to keep energy companies in check – rather than heavy handed widespread price regulation.”
Find out how you could save over £1,000 a year with uSwitch here.
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Launched in September 2000, uSwitch is an online and telephone price comparison and switching service, helping consumers get a better deal on gas, electricity, broadband, TV services, mobiles and personal finance products including mortgages, credit cards, car and home insurance. Last year we saved UK consumers over £278 million on their energy bills alone.
Customers can sign up to an account that automatically monitors the energy market and notifies them when they can move to a cheaper tariff, while broadband customers can conduct a speed test to find out how fast their broadband is and identify the best deal for their postcode.
The multi award-winning 'Switching Made Simple' app allows customers to compare energy, broadband, credit card and SIM-only deals – and uSwitch also has a UK contact centre manned by energy and broadband experts. Customers can post their latest energy bills to FREEPOST USWITCH to receive a free call back and be guided through the comparison process, or they can email email@example.com with their postcode and usage details.
uSwitch is owned by ZPG Plc (LSE:ZPG), which operates some of the UK’s most trusted digital brands that help empower smarter property and household decisions including Zoopla, Money, PrimeLocation and SmartNewHomes. uSwitch is the proud sponsor of Britain’s Got Talent 2018.
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