British homeowners are wasting almost £8.9 billion on bills every year by not switching energy provider.
That’s according to research by the home setup service Just Move In, which suggests the average household could save £350 a year by changing energy supplier.
The findings also show just 5.2% of households have switched energy provider during the last year – this means approximately 25.6 million homes have kept the energy company they had before, losing out on billions of pounds of potential savings.
The report suggests the region with the most missed savings is the South East, where 3.5 million homes could be saving £1.2 billion a year on their energy bills.
In London, missed savings equate to an overpayment of £1.1 billion in annual energy bills, with the North West also seeing this sum exceed the £1 billion mark.
Co-Founder of Just Move In, Ross Nichols, commented: “More and more we are seeing people now prioritise other factors over price, such as the quality of service or their environmental footprint.
“People want to pay more for a better broadband connection, or they want to opt for a provider that promotes sustainability and ethical practice.”