Switchers end up paying more
Published on : 24/03/2009
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Ofgem has decided to bring more clarity to energy tariffs as many switching customers end up paying more.
According to Ofgem, 40 per cent of consumers end up forking out more for their electricity and gas after switching to a new tariff.
Meanwhile the Times reports that the energy sector has long pointed to the large number of people who chop and change their energy tariffs as an indicator of how competitive the British energy sector is.
Some 17 per cent of households change their supplier every year.
However, Ofgem claims that despite the perception of choice and competition, the energy market is still failing.
At the centre of the failings is confusing tariffs and the aggressive marketing tactics of suppliers.
The head of public affairs for Age Concern Patrick South has condemned energy regulator Ofgem for acting too slow when it comes to market reforms.
"Older people who pay by cheque or cash, or those on pre-payment meters, have been paying over the odds for years," he added.
