£8.9bn wasted by not switching energy provider: Homeowners in Britain are throwing away almost £8.9 billion on bills every year by not switching energy provider.

Home setup service Just Move In has researched, which suggests on average each household could save £350 a year by changing energy supplier.

The research also show just 5.2% of households have switched energy supplier during the last year – this means approximately 25.6 million homes have kept the energy company they had before, potentially losing out on billions of pounds of savings.

The region with the most missed savings is the South East, where 3.5 million homes could be saving £1.2 billion a year on their energy bills, suggests the report.

Missed savings in London equate to an overpayment of £1.1 billion in annual energy bills, with the another sum exceeding the £1 billion mark in the North West.

Ross Nichols, Co-Founder of Just Move In, commented: “More and more we are seeing people now prioritise other factors over price, such as the quality of service or their environmental footprint.

“People want to pay more for a better broadband connection, or they want to opt for a provider that promotes sustainability and ethical practice.”

£8.9bn wasted by not switching energy provider

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