Ofgem says 71% of SSE customers still on SVTs

As many as 71% of SSEs’ customers are still on standard variable tariffs (SVT). That’s according to a new report from energy regulator Ofgem, which lists the largest suppliers in […]

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By Jonny Bairstow

As many as 71% of SSEs’ customers are still on standard variable tariffs (SVT).

That’s according to a new report from energy regulator Ofgem, which lists the largest suppliers in terms of which have the most customers remaining on what it calls poor value deals.

British Gas ranked second from the bottom, with 67% of its customers still on SVTs, while the three companies with the smallest proportion of customers on the variable contracts are independent suppliers.

These were First Utility, with just above a fifth of customers on the expensive tariffs, as well as Ovo Energy and Co-Operative Energy, with 28% and 35% respectively.

Ofgem says SVTs are still around £300 more expensive than the cheapest deals currently available but added the number of customers on these tariffs is decreasing as a result of record switching rates this year.

The regulator’s safeguard tariff will mean from February, one million households will be protected from what it believes are the most overpriced deals.