95% could have saved by switching
We offer support to help people switch energy supplier
18 February 2015
In light of today’s (18 February) statement from the Competition Markets Authority (CMA), we are encouraging householders to investigate whether they could get a better deal by switching energy supplier.
Visit our dedicated switching website to find the best deal.
The CMA was commissioned by Ofgem to investigate competition in the energy market. The final report to the inquiry is due in December 2015, but some preliminary findings have been revealed in their progress report.
Ian Preston, our Head of Household Energy Services said: “Today’s report shows you that the ‘big six’ don’t reward loyalty. A staggering 95% of dual fuel customers could have saved money by switching supplier. It’s important we make people aware of money they could save” – for early 2012 to early 2014 this was £158 to £234 a year.
“These kinds of savings are very significant to vulnerable, low income households” he continued.
The CMA found that it is the more vulnerable households that are the least likely to switch. ‘Sticky’ customers are described in the report as those who are “less well off, more likely to describe themselves as struggling financially, less likely to own their own home, less likely to have internet access, more likely to be disabled or a single parent".
CSE’s Home Energy Advisors have been holding sessions specifically focused on switching supplier. These take the form of drop-in sessions, talks at events for vulnerable groups, and training for front line workers who work with such groups and can pass on advice. Our advisors have held two switching events in the last week; Karen Smith held a drop-in session and Beth Grylls attended the Alzheimer’s Memory Cafe to discuss changing supplier. Beth said attendees are wary of switching “however they are happy to listen and take away the information so they can make the choice in their own time and space”.
To make it easier to find the best deal, we have created a switching site in partnership with energy helpline. There is also a page on our advice site about getting the best deal from your supplier. This has information on payment methods, different tariffs and the information you need to switch.