Loyal customers missing out on best gas and electricity deals

ENERGY CUSTOMERS CAN SAVE £270 A YEAR WITHOUT CHANGING SUPPLIER 

Millions of gas and electricity consumers cut could their bills by almost 25% without changing their energy supplier.

Data from Ofgem shows the best deals available from the Big 6 suppliers are 24% cheaper than the average cost of their Standard Variable Tariffs (SVT). 

It means 11 million UK households currently on an SVT could each save around £270 just by moving to their current supplier’s best deal. 

Mark Gutteridge, of energy switching site Flipper, said: “Sadly, while many shops and supermarkets do reward you for loyalty, the same is not the case with energy firms.

“If you’ve been with your current supplier for more than 12 months, it’s almost certain you’re on their standard tariff which will be one of the most expensive they offer.

“Ofgem requires energy companies to put a message on your bill if you can save money by switching to another one of their tariffs, but unless you read every page of your bill in detail – and who does – you’re unlikely to spot this.”

Flipper check the market for their members every month and switch them every time a saving of £50 a year is found – even if that’s to a new deal with their current supplier. 

“It means we spot if their current supplier has introduced a new tariff that is cheaper than the deal they are on, then we switch them over straightaway.” 

Mark says almost 30% of Flipper customers have been ‘flipped’ to a better tariff with their current provider so far this year.

“We’ve had a lot of feedback from people who are really surprised, but very happy, that we’ve saved them money without switching them to a new supplier.

“It’s really important that people understand finding a better deal doesn’t have to mean moving to a different provider.

“And as energy usage will increased dramatically over the next few months as winter approaches, so it’s crucial you check you on a good value energy deal now.”

Unlike comparison sites who get paid commission by the energy providers for switching people to them, Flipper don’t take money from suppliers.

Members pay an annual fee of £30 when they are switched for the first time; tariffs are checked every month and customers are automatically moved to a better tariff if they can save £50 a year.