Why switch energy suppliers? You could save £200 or more

Energy consumers are missing out on £2.2 billion worth of savings by not switching suppliers. New figures from the government reveal 11 million householders still stand to save £200 or […]

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By Priyanka Shrestha

Energy consumers are missing out on £2.2 billion worth of savings by not switching suppliers.

New figures from the government reveal 11 million householders still stand to save £200 or more by moving to a different gas and electricity provider.

However it found only 6% realise the savings could be made and 21% estimated they would only save £50 or less.

Bill payers don’t have to find details on their energy bills to switch as QR codes on bills mean they can scan and automatically load key information such as usage and current tariff on smartphones.

Energy Secretary Amber Rudd said: “As a One Nation Government on the side of the consumer, our priority is to get bills as low as possible for hardworking families and businesses. The government is doing its part to promote competition and give people real choice when it comes to energy deals.

“Thanks to government action, there are now over 31 domestic suppliers in the market, new comparison tools and clear usage information on all bills. Switching is faster too and our ambition is for consumers to switch in just 24 hours by 2018.”

The second phase of the government’s ‘Power to Switch’ campaign helped 130,000 homes save an estimated £38 million in total.