Energy Price Hike - Customers Fight BackBy Moneysupermarket.com, PRNE
Monday, June 13, 2011
CHESTER, England, June 14, 2011 -
Consumers take action to save
money - 1,264 per cent uplift in energy switches
Bill payers can save £382 a year by moving to cheapest
Apathy will cost consumers dearly
British bill payers are reacting to the latest energy price hike
news by taking control of their finances and seeking ways to save
on their energy costs, says href="www.moneysupermarket.com/">moneysupermarket.com.
Britain’s number one comparison site has seen a big increase in
people switching to a better value energy deal following energy
giant Scottish Power’s price hike announcement. From August
1st 2011 the cost of standard gas will increase by 19
per cent and the cost of standard electricity by 10 per cent,
adding an extra £180 to customers’ annual bills. This price
move has sparked savvy switchers in to action and
moneysupermarket.com’s energy comparison tool has seen a
whopping 1,264 per cent uplift to the number of customers swapping
their energy tariff compared to
the days leading up to the announcement.
Apathy will cost consumers dearly; bill payers languishing on
their supplier’s standard tariff could save up to £382 a year by
swapping to the current cheapest fixed deal - the Fix Saver v2
tariff from EDF Energy, at £1,009 a
year. Furthermore, if all bill
payers moved to the best fixed deal, we could not only save £2.3
billion collectively as a
country, but would freeze energy outgoings until September
Scott Byrom, utilities manager at
said: “Customers are certainly taking a stand against energy
price hikes; a crucial move as apathy certainly won’t be
rewarded. The Scottish Power price rises will
affect 2.4 million households. On a national scale this adds an
extra £420 million to Scottish Power customers’ annual
“This increase has really ignited our customers to act and get a
better deal before any further price increases are announced. Now
really is the time to get on to the best priced energy tariff for
your usage level and area you live. Bearing in mind historical
energy market price rises, it’s highly likely the other energy
providers will follow suit. In the face of rising prices, opting
for the market leading fixed product Fix Saver v2, from EDF Energy
with average bills of £1,009 is the best way to safeguard against
further price increases from the energy giants.
“Shopping around using a price comparison site for the best
value energy product is vital and I urge everyone worried
about the cost of their bills to act quickly as the best priced
products are unlikely to be available for long. The more
of us who switch to a better deal the more suppliers will need to
compete for our business.”
Notes to Editors:
1,264 per cent uplift in
energy switches on Wednesday 8th June 2011, compared to
the daily average for 1st - 6th June 2011.
Standard, fixed and
online / best energy tariffs
British Gas: average standard tariff (£1,096.75), average
online/best tariff (£954.59 Web Saver 12), fixed tariff (£1,217.41
Fixed Price June 12).
EDG Energy: average standard tariff (£1,118.28), average
online/best tariff (£940.49 Online S@ver 10), fixed tariff
(£1,009.05 Fix Saver v2).
E.ON: average standard tariff (£1,122.83), average online/best
tariff (£964.97 SaveOnline v7), fixed tariff (£1,126.05 Fixed Price
Npower: average standard tariff (£1,148.98), average online/best
tariff (£973.28 Sign Online 22), fixed tariff (£1.013.80 Go Fix
Scottish Power: average standard tariff (£1,391.21), average
online/best tariff (£932.10 Direct October 12), fixed tariff
(Platinum Fixed Energy 2014).
Scottish & Southern: average standard tariff (£1,094.11),
average online/best tariff (N/A), fixed tariff (N/A).
Average: average standard tariff (£1,162.03), average
online/best tariff (£953.09).
Sourced by www.moneysupermarket.com 09.06.2011
We know from Ofgem data that
58 per cent of gas customers have never looked for a better deal,
with 57 per cent of electricity customers remaining apathetic.
Therefore, of the 27 million households in the UK, at least 15
million have never moved away from their incumbent gas or
£1162.03 - £1009.05 (average cost of standard - best priced
fixed) = £152.98 (£153)
£153 x 15,000,000 = £2,295,000,000 (£2.3bn)
- No other site compares more prices or products
- We are independent so only find the best deals for you
- The price you see is the price you pay - you don’t need to go
direct and you won’t get a better deal doing so
- Your details are safe with us and we wont sell them to
moneysupermarket.com compares (at 31st May 2011)
- 10 car insurance providers and 76 home insurance
- 13 broadband providers and 19 energy
- 28 unsecured loan and 5 secured loan providers
- 65 mortgage lenders and 30 credit card providers
- 66 savings providers and 14 current account
- Over 770,000 mobile phone deals
We promise to be clear and
- All the products in our full search results tables are
displayed in a completely unbiased manner.
- We don’t add fees or commissions on to the prices we
- There may be times when another site compares more companies
than us on a particular product, perhaps because of market changes
or technical issues. You’ll be able to see this and know we are
working hard to fix it.
We promise to be trustworthy
- We never use your data to make unwanted sales calls or send you
- We never pass your personal information to third parties unless
you give us permission to do so.
- Even if you choose to receive additional information from us,
you can opt out at any time.
- We promise to be supportive.
- You can use our community forum to get information
and help from other customers.
If you need further help or support, you can contact our sales
advisors, customer services agents.
For further information, please contact:
Tags: Chester, England, June 14, Moneysupermarket.com, United Kingdom