British Gas is ripping off over 6.6 MILLION customers – here’s how
British Gas’s slogan is Looking after your world.
We suggest it change it to the far more apt Looking after our profits.
The ruse of British Gas being trustworthy is up: earlier this month industry regulator Ofgem revealed a staggering 6.6 million customers were trapped on the energy giant’s most expensive tariff.
To be precise, 6,639,056, or 74%, of British Gas’s customers are on its standard variable tariff (SVT).
This deal, costing a hefty £1,044 a year, is £129 pricier than the cheapest deal available from…British Gas.
And it’s £166 more expensive than the average of the cheapest tariffs from the 10 cheapest suppliers.
We got our calculator out and, when comparing the pricy tariff with the company’s cheapest, we reckon British Gas overcharged those 6 million or so customers by £856,438,224.
It makes the BHS pension gap look like small change.
Ofgem’s findings weren’t too flattering for the rest of the Big Six, but British Gas were the biggest offender by a country mile.
British Gas uses a fluffy penguin - below - in its advertising to promote its brand as trustworthy and family-orientated.
We imagine that penguin when he's off duty, sitting back and counting all the cash he's made overcharging millions of its loyal customers for gas and electricity.
There’s no excuse.
It’s simple: households should not be stuck on these pricy standard variable tariffs, especially when expected wholesale energy price rises next year make it wise to lock in to a fixed plan.
We’d hazard a guess that the customers trapped on these plans are a bit older, more trusting, less likely to switch because of brand loyalty or a lack of tech savviness.
There are plenty of tricks to shave money off your bills, from taking meter readings to changing how you pay, but for British Gas customers stuck on a SVT the most important thing is to switch to a cheaper deal.
If you’re with British Gas, check your bill, find out how much you’re paying and compare prices online.
If you’ve got a friend or family member with British Gas, get hold of their bill, check how much they’re paying and compare prices online.
Don’t take our word for it, have a look at the Ofgem’s study yourself.
Make sure you’re not being ripped off.
ARE YOU BEING RIPPED OFF BY YOUR ENERGY PROVIDER?
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