One in 10 bill payers have never switched energy providers
Consumers in the UK are worryingly not clued-up on their energy costs and are even more confused when it comes to lowering this cost. With one in 10 (10 per cent) Brits having never switched, consumers are burning through money faster than they need to.
New research from TopCashback.co.uk, the UK’s most generous cashback and comparison website, finds the majority (89 per cent) of Brits have no idea how much energy they use, despite nearly three-quarters (72 per cent) of bill payers believing it’s important.
Highlighting that there is a problem, over two-thirds of consumers don’t know if it is possible to haggle with energy providers and one in 10 (10 per cent) believe it’s simply not possible at all. With more than half (53 per cent) of consumers paying over £71 per month on their energy bills and 20 per cent, paying over £100 per month, there is no better time than now for Brits to haggle or switch.
Shining further light on the extent of energy confusion, the research also finds that only 46 per cent of bill payers know that standard variable rate tariffs are often the most expensive. This is despite nearly eight in 10 believing they knew exactly what it was.
While it may look like consumers really are in the dark when it comes to their bills, it’s safe to say it’s not all bad. Over three-quarters (77 per cent) understand that the energy price caps limit the amount suppliers can charge per unit of gas and electricity and the prospect of lower energy costs couldn’t come soon enough.
