Savings Of £325 To Be Made By Switching Energy Supplier

Office managers who are looking for ways to cut down on their expenses may be more inclined to change energy supplier, after Ofgem data revealed significant savings could be made by moving from standard tariffs to the cheapest fixed-term deal.

Findings showed two-thirds of customers could save themselves up to £325 by doing this, making it another cost-effective decision in addition to fitting energy-saving LED panels in the office.

Ofgem’s data found there has been a shift in behaviour recently, with eight per cent more customers changing provider in the first three months of the year compared with the same period in 2015.

Indeed, 855,599 gas and 1,090,531 electricity customers switched tariffs between January and March this year alone.

Speaking on the findings, energy spokesman at Ben Wilson said: “There is now an opportunity to change consumer behaviour for the better and get a generation of bill payers into the habit of shopping around and taking control of their energy outgoings.”

The price comparison site stated 43 per cent of households have swapped energy supplier in the last three years, adding that savings of up to £207 on gas and electricity bills per year could be made by doing so.

Ofgem reminded customers with prepayment meters (PPM) that some of the best deals are only available by changing the meters, as there is not much choice when it comes to tariffs that include PPMs.

Rachel Fletcher, Ofgem’s senior partner of consumers and competition, expressed her concern that suppliers are not offering their cheaper fixed-rate deals to PPM customers, as many of these are “vulnerable” and they are “losing out” as a result.