Nearly half of all Brits have never switched suppliers

Around 45% of Brits have never switched energy providers. That’s according to a recent survey conducted by comparison site Gocompare, which identified the reasons stopping so many Brits from switching. […]

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By Jonny Bairstow

Around 45% of Brits have never switched energy providers.

That’s according to a recent survey conducted by comparison site Gocompare, which identified the reasons stopping so many Brits from switching.

A quarter of respondents said the process of changing suppliers or even tariffs was too complicated, while 32% said it just took too long.

Consumers say they would need to save an average of nearly £300 per year to bother changing their supplier or tariff.

As of 28th April 2016, the average Standard Variable Tariff annual bill from the Big Six suppliers was more than £300 higher than the cheapest fixed tariff available in the market, the comparison site states.

However, Ofgem has said a greater proportion of consumers found it easier to compare tariffs in 2016 (43%) than in 2014 (37%).

The regulator also said the proportion of consumers who are aware of all of their options in the energy market has increased from 75% to 80% over the period.

Ben Wilson, Energy & Home Services Product Manager at Gocompare.com said: “When it comes to saving money, Brits are always on the hunt for the best bargain but it seems the perceived hassle of switching energy providers often deters many of us from cutting down household bills.”

Switching energy suppliers in January was up 31% on last year.

Some energy consumers could save as much as £261 a year without having to switch to a different supplier.