Ofgem introduced new rules from the 1st July 2010 that means energy suppliers now have to provide annual energy statements to all residential customers. Energy providers have until 1st December 2010 to provide the first energy statement to customers. The aim of this new ruling from Ofgem will highlight to customers what their current annual spend is on energy, making it easier to see whether savings can be made by switching to an alternative supplier.
Many customers are unaware of what tariff they are currently on and what their annual energy consumption is, making it difficult to make accurate comparisons with other energy suppliers on comparison websites such as www.ukpower.co.uk . The new energy statement means that customers will have all the information they require to hand in order to make comparisons, and evaluate whether switching to a new supplier would save them money, meaning consumers are able to take advantage of the competitive market.
Customers should study the statement when they arrive so that they are fully aware of exactly what tariff they are on, when it comes to an end if applicable and any cancellation charges that may be applied if they decided to switch to an alternative tariff and/or supplier before this end date.
They should then use this detailed information as a tool to remember to check whether they are on the best deal available to them at that time. As the statements will be provided annually it’s worth using their arrival as a reminder to check at least once a year for the most competitive tariff on www.ukpower.co.uk.