Government investigation finds consumers are paying up to 30% more

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* Between 01/04/17 and 30/09/17, at least 10% of people who switched energy supplier for both gas & electricity with saved £491 or more.

Today the Competition and Markets Authority (CMA) have published the first set of results in their investigation into the energy market. One of the headlines from their findings shows that customers on standard tariffs face bills of £160-£235 a year more than if they were on their supplier’s cheapest tariff.

Additional findings include:

  • The government is calling for further reductions of 10% to be passed onto consumers
  • The Big 6 need to be broken up as they have ‘unilateral power’
  • Smaller energy suppliers are not making enough difference
  • 40% of British Gas customers have been with them for 10 years or more

Scott Byrom, energy expert at , said “It’s essential that customers take notice of this announcement from the ‘Competition and Markets Authority’ (CMA) and proactively seek a better deal for their home energy supply. If you’ve never switched, or have recently moved house, you are guaranteed to be sitting on a ‘standard’ tariff and therefore paying way more than you need”

Check the chart below to see how much you could be saving

You can check your area below and find out approximately how much you could be saving by switching. If you think you’re paying more than you need to, then you should take action to switch and you can do this using our online comparison tool or by speaking to one of our experts.

Scott adds “If you live in the Midlands, your neighbours are getting exactly the same gas and electricity as you are but could be paying £377 a year less than you. Don’t let your supplier rip you off due to apathy. It takes 10 – 15 minutes to switch your energy supplier to ensure that extra money is in your pocket”.

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

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