Faithful Energy Customers Overpaying by £5.4bn per year

Recent inspection regarding energy comparison sites revealed that those customers who stays loyal with their supplier for years. They paid some £5.4bn a year to the energy companies. Even, a third of UK households who stuck to the same supplier for more than five years, have spent  £18.7bn more than required. Just because of this, media talks a lot about the broken trust between faithful customers and energy suppliers.

Faithful Energy Customers Overpaying by £5.4bn per year

Know how much households customers sticks to the same supplier for years & then overpaid –

S.No

% of Households loyal customers

No. of years customers sticks to the same energy supplier

Loss/year

1

15.00%

5-10 years

£1,000 – £2,000

2

7.00%

10-15 years

£2,000 – £3,000

In fact, if the customers stay with same supplier, energy supplier will not provide any cheaper offers and deals to the faithful customers. Being loyal is definitely going to be costly more to the customers. So, it’s necessary for customers to track their bills and switch energy suppliers for cheapest gas and electricity tariff.

Furthermore, Corporate Responsibility Minister Margot James said: “Government action means it’s easier and quicker to switch than ever before. Between 2010 and 2016, energy supplier are tripled and 2.6 million customers already has taken advantage this year by switching supplier and saved up to £589 (average) on their energy bills

In accordance with the 2,121 UK adults survey, there are few reasons why customers not switched their suppliers –

  • 53% of respondents cited quality of services.
  • Another 41% said they benefited from their supplier’s reward scheme.
  • Consistency and familiarity ranked third and fourth.

By switching to a new supplier on seeing their Star Ratings, you can still get benefited by the quality of service and ofcourse by saving money. So, why not change your thoughts with the changing world.

Switch energy providers can be done by simply doing a comparison of your existing tariff with the others in the market. One thing you should remember is that the energy comparison sites have to be OFGEM accredited. It means website will do impartial comparison and provide details of cheapest supplier in your locality.

Are you one of them who is not familiar with energy comparison facts? Well you don’t need to worry at all, vswitch usave site helps in doing online gas and electricity comparison in order to help people in switching supplier. It’s free and independent comparison company. No hassle absolutely, you can save money by doing online energy comparison. Visit us at www.vswitchusave.co.uk