Switch to an online energy supplier and save £500 a year

23 September 2008 / by Rachael Stiles
Recent energy price hikes have spurred a lot of British consumers into switching gas and electricity suppliers, and with potential savings of nearly £500 to be made, moneysupermarket.com is urging more households to switch to an online tariff.

About half of UK households have switched energy provider already, and research from moneysupermarket.com found that only 20 per cent of people would not switch supplier for a saving of £200 a year.

Households could cut their gas and electricity bills as much as £483 a year by switching from a standard to an online tariff, the research revealed, which is more than twice the saving cited by the majority of people needed for them to make the switch.

Scott Byrom, utilities manager at moneysupermarket.com, said: "The hammer blow of two rounds of price hikes so far in 2008 means people are in more need than ever to tighten their purse strings. Gas has risen by 52 per cent since the start of the year and electricity by 28 per cent. Every pound counts at the moment, especially with other day to day living costs on the rise too."

Not counting the 20 per cent who would be unmoved by an annual saving of £200, this amount would be sufficient for the other 80 per cent of Brits to switch energy provider. Just 11 per cent said that they would never change energy companies.

"With winter looming, it's encouraging to see a large proportion of bill payers are actively looking to save." said Mr Byrom.

"I advise anyone languishing on a Standard tariff to move on to the best deal now to avoid wasting your hard earned cash." And, while they may not be as cheap, he added that "For bill payers seeking security in their outgoings, fixed tariffs should also be considered."

© Fair Investment Company Ltd