Staggering 70% of UK energy customers can't be bothered switching to cheaper deal
The great energy price hike is in full force, with loads of major suppliers increasing tariffs - but customers seem reluctant to switch to a cheaper deal. Why?!
A Spokesman Said has reported on the fact E.on, EDF Energy, Npower, British Gas and Scottish Power have all surged prices by around 10.5%, leaving customers seriously out of pocket.
But 70% of Brits aren’t changing energy supplier, even though cheaper deals are out there on the market.
New research by Igloo Energy has shown a staggering seven out of 10 Brits can’t be bothered switching energy providers, but why?
Well, of the 2,043 energy customers surveyed, 70% said they didn’t see the point of switching because they’d have to do it again when their cheaper introductory offer ends.
And then 69% said they felt it was pointless because they never see the big, long-term savings that have been promised.
Despite recent Energy UK figures showing a record 5.8 million households switched energy providers in 2018, the increase in households switching is dropping year-on-year and is currently at its lowest level in five years.
The research found 64% of UK households haven’t changed energy providers in the last two years.
This means that 54% are stuck on their provider’s most expensive tariff…
Just to put the great energy price hike into its proper context; customers who joined the major energy suppliers’ cheapest tariffs in November 2017 have seen their bills surge by 36% - that equates to £322.67 on average.
This is because they were automatically switched to a Single Variable Tariff (SVT).
This is only marginally better than those who chose the cheapest deal in January last year, which has seen their bills shoot up last month by around £223 (25%) to an average of £1,131.60.
With Ofgem increasing the price cap, default tariffs from some of the big six will rise to £1,254 a year.
That’s why it pays to shop around. Go to A Spokesman Said and find a cheaper energy deal for you.
Matt Clemow, CEO of Igloo Energy, said: “Households across the country are experiencing tease and squeeze fatigue. The somewhat dishonest model used by the majority of providers relies on loyal customers forgetting to switch after being enticed by cheap introductory offers before stinging them with much higher prices.
“Who can blame them for getting tired of it? They shouldn’t have to constantly change supplier in order to get a fair deal. Consumers are crying out for transparency and simplicity.”
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