The Telegraph and Metro have both reported this week that “loyal customers of Britain’s biggest energy firms who have failed to switch their energy supplier over the past five years are on average £853 worse off”
“Families who stayed with British Gas, SSE, E.ON, Npower, EDF and Scottish Power for at least five years paid out an average £853 more than they needed to over the period, according to Ofgem data compiled by energy provider Bulb.”
Ofgem data shows that the loyal customers of the big 6 collectively handed British Gas, SSE, Eon, npower, EDF and Scottish Power a windfall of £7.3 billion by failing to switch over the period!
Bulb co-founder Hayden Wood said:
“These latest numbers show that so-called standard tariffs no longer have the customers’ best interests at heart. The Big Six need to show that they’re putting customers first, instead of profits.
“Loyalty towards a brand is often rewarded, yet households who’ve put their trust for years in a single energy company are being forced to subsidise others who switch every 12 months.”
A recent poll by uSwitch found a third of Britons are concerned about paying their energy bills this winter and more than half are struggling with their household finances.
British Gas became the latest big supplier to raise prices last month, with electricity set to go up by 12.5 per cent for 3.1million customers, despite falling wholesale prices!
What do we recommend?
Everyone should compare the market and find a cheaper provider and continue to switch when their tariff increases.
We moved to another provider called Bulb who recently did a 3% price reduction for all customers, then knocked £20 off a year for all customers and were £224 cheaper than our last provider + they pay your current exit fees + you can also knock a further £50 off with this link http://10ws.co/2q233gk oh and all the energy comes from renewable green sources!
Of course, Bulb may not be cheaper for you but from what I’ve seen they’re very competitive nationwide and often are cheaper than the big 6, either way do your research and compare your options but having a fully renewable electricity tariff is good for everyone in the long term, as it’s the cheapest form of electricity in 30 countries worldwide now, so even if you don’t switch now, maybe consider a renewable energy tariff in the future.
Have you ever switched?
According to the latest Ofgem figures 45 per cent of households have never switched energy providers.
Can renewable energy really be cheaper than dirty coal, gas & nuclear?
Various studies and news articles have come out this year saying how renewable energy is simply the cheapest form of electricity, so these savings can be passed on to those supporting 100% renewable energy providers.
How can I see what % of the grid is currently green?
“All houses have the same cables so how is this renewable energy”
You’re quite correct there isn’t a special cable just for your house and the renewable energy you buy however every time 1 kWh is used by their customer’s, Bulb buy 1kWh from a renewable source, therefore they’re 100% renewable. Obviously, the way the grid works means we still get a mix of energy from various sources but if more and more people swapped to renewable only tariffs then the grid would become greener and greener until eventually non green sources were reduced to very little.
Disclaimer: If you use the link above for Bulb you will get £50 off and we will also get £50 off our energy bill.