UK consumers are losing out on an estimated £830million by not taking advantage of discounts on offer from energy suppliers, according to the latest research from uSwitch.com.
On average energy suppliers have cut their prices by £84 this year, but, says uSwitch, most people could cut their bills by a further £142 if they made use of the discounts on offer to them.
uSwitch estimates that 2.4million duel fuel homes are wasting around £174million by not paying their bills by Direct Debit, and 4.2million households are missing out on £42million worth of savings by not moving to duel fuel.
There are also up to 12.5million households - more than half of UK homes - that are paying over the odds because they haven’t shopped around for the cheapest plans available to them.
“If consumers hoped the energy price war would result in chunky reductions in household bills then they look set to be sorely disappointed,“ says Geoff Slaughter, Energy Manager at uSwitch.com.
“Prices have only fallen by £84 and, with no further cuts on the near horizon, the best chance that consumers now have of seeing their bills go down is by taking advantage of the discounts being offered by suppliers.
“By moving to dual fuel, paying by Direct Debit and signing up to an online plan, households can reduce their bills by up to £142. There’s no point sitting back and waiting when three simple steps can save people more money than price cuts have so far to date.”Compare Gas and Electricity Prices