Millions of Big Six energy customers are still overpaying for their energy but could get their prices back to 2008 rates according to the latest research from consumer watchdog Which?.
The research found that those on an Big Six standard variable tariffs (SVT) with one of the Big Six energy providers (British Gas, EDF Energy, E.ON UK, NPower, Scottish Power and SSE) are set to go up on average of £1,131 per year, after it was recently announced price rises have been implemented.
However, SVT customers could get their bills back to the equivalent of 2008 prices by switching to one of the cheapest available dual fuel tariffs according to Which?.
This would result in a saving of 25 per cent, and £300 a year savings.
‘Switch to a cheaper deal now’
“Far too many people are still stuck on some of the most expensive deals,” says Alex Neill, Which? Managing Director of Home Products and Services. “With five of the big six set to increase their prices, consumers could save £300 a year by switching to a cheaper deal now.”
Which? currently states that IRESA Limited, Economy Energy, Avro Energy, Tonik Energy, So Energy, Toto Energy, Affect Energy, Bristol Energy, Supply Energy and Octopus Energy as having the ten cheapest energy tariffs.
Alex adds, “With speculation rife that the Government may introduce a price cap, it is vital the regulator ensures that any price control makes a real difference for people struggling with their bills.”