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Energy customers could save £260 without switching, says Ofgem | Energy customers could save £260 without switching, says Ofgem |
(35 minutes later) | |
Millions of energy customers could save hundreds of pounds a year on their energy bills without even switching supplier, according to the regulator Ofgem. | |
More than 1.7 million Npower customers could save £261 a year, simply by moving to another Npower tariff. | |
As many as 6.6 million British Gas customers could save £129 a year, according to Ofgem. | |
However British Gas says it has changed its prices, so the saving is now £43. | |
The figures also reveal that SSE has the most customers on expensive standard variable rates. | The figures also reveal that SSE has the most customers on expensive standard variable rates. |
SSE has 91% of its customers on standard variable tariffs, compared to just 9% at First Utility, according to Ofgem. | SSE has 91% of its customers on standard variable tariffs, compared to just 9% at First Utility, according to Ofgem. |
The number of people stuck on standard tariffs is controversial, as fixed-rate deals are cheaper. | The number of people stuck on standard tariffs is controversial, as fixed-rate deals are cheaper. |
In the UK as a whole, 66% of households are on standard tariffs. | In the UK as a whole, 66% of households are on standard tariffs. |
'Increased choice' | 'Increased choice' |
Last month, the business and energy secretary, Greg Clark, met energy suppliers, amid claims that some of them were making large profits from customers who are on standard variable tariffs. | Last month, the business and energy secretary, Greg Clark, met energy suppliers, amid claims that some of them were making large profits from customers who are on standard variable tariffs. |
The industry denied profiteering. | The industry denied profiteering. |
As a result, the government ordered Ofgem to publish the comparison table, to make energy tariffs more transparent. | As a result, the government ordered Ofgem to publish the comparison table, to make energy tariffs more transparent. |
"Millions of people across Britain continue to pay too much for their energy," said Mr Clark. | "Millions of people across Britain continue to pay too much for their energy," said Mr Clark. |
"The measures announced today are a positive step to help more people benefit from increased choice and competition." | "The measures announced today are a positive step to help more people benefit from increased choice and competition." |
Citizens Advice said the new table would help customers, but that energy firms could still do more to help. | Citizens Advice said the new table would help customers, but that energy firms could still do more to help. |
"We'd like to see energy companies do more off their own back to help customers who are on a low income, like moving them to a cheaper deal," said Gillian Guy, the chief executive of Citizens Advice. | "We'd like to see energy companies do more off their own back to help customers who are on a low income, like moving them to a cheaper deal," said Gillian Guy, the chief executive of Citizens Advice. |