18 Jul 2014
Latest data from Ofgem’s 2014 Consumer Engagement survey shows that a shocking three quarters of bill paying tenants admit they’ve never switched energy or gas supplier in order to try and save their hard earned cash (77% for electricity and 74% for gas).
Furthermore, despite the fact that shopping around could save tenants up to £200, one in five (20%) admit that they weren’t aware they could switch to a different supplier. The research highlights the sheer lack of awareness among tenants of their rights to shop around to get a better energy deal. Renters are only half as likely to switch compared to homeowners: 26% of renters said they had ever switched gas supplier compared to 47% of homeowners, with similar figures for switching electricity supplier (23% compared to 45%).
A common myth among renters is that they have to accept the energy suppliers already in place when they move in. But very rarely is this the case. The Be an Energy Shopper website (www.goenergyshopping.co.uk) has been updated to include the key facts, along with top tips for breaking down the barriers which prevent tenants applying their savvy shopping habits to their energy bills.
Dermot Nolan, Ofgem’s CEO, said: “The number of British households renting stands at 9 million and counting, yet research has shown that this group is not shopping around for their energy, and missing out on savings of up to £200. We’ve now updated the Be An Energy Shopper website so that it also addresses tenants’ needs, and therefore they too can get a better deal on their energy.”
Story appears courtesy of Ofgem.