Some energy consumers could slash their fuel bills by a quarter if they switched supplier.
That’s according to new research from Which?, which found those on Big Six standard variable tariffs (SVT) could get their bills back to the equivalent of 2008 prices by switching to one of the cheapest available dual fuel tariffs.
With a raft of energy price rises set to come into force next month, those who stay on an SVT with one of the Big Six providers will see average bills increase to £1,182 per year.
Alex Neill, Managing Director of Which? Home Products and Services said: “Far too many people are still stuck on some of the most expensive deals. With five of the Big Six set to increase their prices, consumers could save £300 a year by switching to a cheaper deal now.
“With speculation rife that the government may introduce a price cap, it is vital the regulator ensures that any price control makes a real difference for people struggling with their bills.”
Around 45% of Brits have never switched energy providers.