Failure to switch energy supplier 'costing over-55s £30 a month'

Between 1 July 2019 and 31 December 2019, at least 10% of people who switched energy supplier for both gas & electricity with Uswitch saved £479 or more.

People over the age of 55 who have not made a switch of energy supplier since September are losing out by £30 a month, according to new research.

Silver RPI figures, published by Age UK Enterprises, show older individuals have been subjected to price hikes of five per cent above inflation over the last five months.

One of the biggest increases has been made by dual fuel providers, with many of Britain's largest suppliers introducing higher charges in recent times.

Gordon Morris, managing director at Age UK, says: "The rise in everyday costs is in part due to over 55s spending proportionally more on products and services, such as utilities, that have increased rapidly in price in the last quarter."

A switch of energy supplier may be one of the only ways for households to take control of prices and send them downwards.

Conor Pope, writing for the Irish Times recently, said adding insulation to a house is another option to reduce consumption of fuel and pay less.

Posted by Richard Eden

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.