With a raft of energy price rises set to come into force next month, new research has found that people on “Big Six” standards tariffs could get their bills back to the equivalent of 2008 prices – by switching.
Which? said millions of consumers are still overpaying for their energy and could save 25% by moving to one of the cheapest available dual fuel tariffs.
Bills for customers on standard variable tariffs (SVT) with one of the Big Six are set to go up, on average, to £1,131 per year, after recently announced price rises have been implemented.
As speculation continues that the Government may introduce an energy price cap, Which? said people paying over the odds for their energy don’t need to wait to start saving.
By switching to one of the cheapest dual fuel deals on the market, Big Six customers will be able to save themselves around £300 a year.
Energy customers looking for cheaper deals can compare deals with Which? Switch, a transparent and impartial way to compare energy tariffs and find the best gas and electricity supplier.
Alex Neill, Which? managing director of home products and services, said: “Far too many people are still stuck on some of the most expensive deals.
“With five of the big six set to increase their prices, consumers could save £300 a year by switching to a cheaper deal now.
“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.”
Over 500,000 people have joined Which? in calling for ‘Fair Energy Prices’ and for energy companies to engage their customers to help them switch to a cheaper deal.