Commenting on Ofgem’s announcement of an average £57 rise in the level of the prepayment safeguard tariff, Richard Neudegg, Head of Regulation at uSwitch.com, says: “Action to support vulnerable households is welcome, and should be considered alongside other targeted measures to make it easier for families who are struggling to keep their homes warm.
“However, as the Government considers introducing more widespread energy price controls, the impending hike is a timely reminder that price caps can go up as well as down. A £57 average jump in annual costs is significant considering it was reviewed just six months ago. The number of deals available to escape rises has become more limited as prices cluster around the cap, and there’s a risk that vulnerable consumers will not have switched to a better deal believing the cap would protect them. It remains to be seen whether all suppliers will raise their prices up to the new cap, but it’s likely these households could face an unwelcome hit at the beginning of April.”
Find out how you could save over £1,000 a year with uSwitch here.
— ends —
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, mobile 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 firstname.lastname@example.org with their postcode and usage details.
uSwitch is owned by 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.
If you would no longer like to receive our press releases please email email@example.com with 'unsubscribe'.