The average household could save £150 a year if only they knew of the better deals their current suppliers were hiding from them, according to Moneysupermarket.com.
The company is calling for firms to notify their existing customers when they launch better deals.
Paul Schofield, head of utilities at Moneysupermarket.com, said: “Energy providers rarely, if ever, tell existing consumers about cheaper deals, as the more expensive tariffs allow them to offset the great deals they offer.”
“Allowing customers to languish on old tariffs is a money-spinner, but it doesn’t help build trust or loyalty,” he added.
Energywatch, the industry watchdog, supports the call to get suppliers to make more of an effort to promote cheaper deals.
Graham Kerr, energywatch spokesman, said: “Surely it’s good business sense to try to retain the customers a company already has. If providers introduce new and innovative deals, offering them to existing customers gives them an incentive to stay rather than switch to a separate company.”
However, the Energy Retail Association (ERA), who represents suppliers, said that the UK market was already “fiercely competitive”.
Duncan Sedgwick, chief executive of the ERA, said: “Energy suppliers spend millions of pounds each year advertising new products to customers in order to compete effectively with other players in the market.”
He added that comparison services had an important role in making sure that the better tariffs were “always in the public eye”.
We at compareandsave.com advise you to use our utilities section regularly throughout the year to check for these better deals. Additionally, we recommend that you read our guide to 'Saving money on your energy bills’ so that you have all the information you need to find yourself the most suitable tariff.
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According to all aboutyou.com, around 10 million households in the UK have not checked whether they are using the cheapest supplier for gas and electricity, to help save those pounds and pennies. Over the last 12 month we have seen household utility bill prices soar.
Most household’s top priority, however is reducing outgoing bills, like gas and electricity and finding the best deals. With the growing number of options of energy suppliers, consumers are now free to choose who supply’s their gas and electricity.
Here are some key things compareandsave.com recommend to help curb those unnecessary costs and to help keep your bank balance positively healthy this winter.
- Shop around for the best deals. On compareandsave.com we offer an internet-based comparison service to find the best deals for you with our impartial, accurate and reliable information. We are passionate in ensuring you choose the most cost effective and energy efficient way of maintaining your household.
- Why not opt for a single energy supplier, which offer a duel fuel package to serve both your gas and electricity requirements. This is an increasingly popular option and suppliers offer additional promotions and discounts for taking both gas and electricity on board. Dual fuel is not always the cheapest payment method and this will depend on your current suppliers, your consumption and location.
- How do you pay your bill currently? For example if you a selecting a payment method like direct debit you may find your self saving money off your overall payment.
- Turning the central heating down by just one degree saves £30 a year on average, according to the Energy Saving Trust, a charity that promotes energy efficiency.
- Turning appliances off are key to in helping reduce your gas and electricity bills. For example turn off televisions, videos, DVDs, satellite and cable boxes left on standby and help save our planet.
- The size of your gas meter effects how much you pay so make sure your meter is the right size.
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