A quarter of people in the UK don’t know if they’re on high-cost Standard Variable Tariffs (SVTs) or not.
That’s according to a new survey from Bulb Energy, which suggests young people are less likely to know what deal they’re on than older generations – despite having access to a range of apps and online switching services, half of all 18 to 24 year olds are in the dark.
While two-fifths of 25 to 34 year olds said they are also unsure, only 16% of 55 to 74 year olds don’t know what deal they’re signed up to.
Bulb Energy suggested customers may be confused about the process – 44% of respondents said they switched in the last year, despite official statistics showing only half that proportion made the change.
Hayden Wood, Co-Founder of Bulb Energy, said: “Millions of families aren’t getting the cheap energy deals they deserve because of the way the Big Six confuse their customers.
“Complicated tariffs and hard-to-understand bills mean 28% of all households don’t know whether they’re being ripped off or not. I’m particularly concerned that younger generations appear to be the most affected.”