The UK’s energy consumers are blind to the reality of their energy costs, bills and tariffs.
That’s according to switching service The Labrador, which says the “deepening cost of national domestic lethargy is significant and worsening by the day”.
A new survey of 2,004 billpayers shows nearly half of all billpayers across the UK have paid for their energy via an estimate for the last 2.9 years and reveals only 12% of consumers have paid their bills using an actual reading for the last decade.
It suggests 5.5 million people think all energy providers deliver the same offer and as many as 2.1 million don’t know how much they are paying for their monthly gas and electric bills.
The firm also says 57% of non-prepayment meter consumers are on poor value standard variable rates, which it claims can be as much as £300 more expensive than the cheapest deals on the market.