Welcome!

Symbian Authors: Jack Newton, Kevin Benedict, Matthew Lobas, Shelly Palmer, RealWire News Distribution

News Feed Item

Households Miss out on £3.8 Billion Energy Saving by not Switching

CHESTER, England, January 22, 2013 /PRNewswire/ --


  • Moving from the traditional energy supplier in your area could save you around £300 a year[1]
  • Bill payers in the South East can save the most - £385 or 27 per cent
  • Cold weather comes as all price hikes from the 'Big Six' take effect

UK households could reduce their annual energy bills by more than a fifth (21 per cent) by moving from their traditional energy supplier to the cheapest available product - an overall saving of £3.8 billion for the nation and a potential saving per household of £300 a year.[1]

Research by moneysupermarket.com, the UK's number one comparison site, also reveals the regional differences in the savings to be made by switching to the best deal. Of the UK's 14 energy regions, bill payers living in the North Wales and Liverpool region who are still customers of their original energy supplier have the highest average annual bills of £1,444 for their gas and electricity. The cheapest energy bills paid by those who have never switched are found in the East Midlands where the total dual fuel bill is £1,385, a difference of £60.  However, it is bill payers living in the South East who can make the biggest saving - £385, or 27 per cent.[1]

The recent cold and snowy weather will have added pressure to households already facing costly bills from the busy Christmas period, making the need to save money by switching tariff even more important for bill payers. Households who have never changed their energy deal could save an impressive £300 a year on average if they moved from the original (incumbent) provider's standard tariff and opted for the best value deal. If all the households who've yet to change to the best possible deal, made the switch the nation could collectively save £3.8 billion on its energy bills.[2] 

Clare Francis, Editor-in-chief at moneysupermarket.com, said: "The current cold snap has no doubt caused many households to dial up the thermostat, but there is obviously a price to pay for this. Price hikes, the festive period and the cold, snow-filled weather are a perfect storm for costly bills piling more pressure on hard-pressed families. But it's not all bad news as some of that money can be clawed back.

"Firstly, if you haven't changed your energy deal in the past 12 months, chances are you'll be paying more than you need so look to see if you can make savings by switching to a cheaper tariff. We recommend going for a fixed online deal as that will protect you in case we see another round of price hikes this year. If you're currently on a fixed price plan, remember to switch when it comes to an end.[3]

"As well as saving money by switching tariff it's also worth thinking about how you use energy at home. Making simple changes such as doing your washing at 30 degrees rather than 40 or 60, and turning appliances off as opposed to leaving them on standby, can result in significant savings over the year."

Notes to editors:

[1] Incumbent (traditional) Vs Best Tariff

                  Incumbent                           Incumbent Incumbent
      Region       Tariff           Best Tariff         v Best    v Best
                                            Potential  Potential
                                             Saving     Saving
                 Total (GBP)     Tariff    Bill (GBP)     GBP        %
                              British Gas
                                 Online
                                Variable
                                February
    Eastern      GBP1,405.53      2014     GBP1,111.99 GBP293.54  20.88%
 
                              British Gas
                                 Online
                                Variable
    East                        February
    Midlands     GBP1,384.64      2014     GBP1,097.14 GBP287.50  20.76%
 
                              E.ON Energy
    London       GBP1,400.57    Discount   GBP1,120.49 GBP280.08  20.00%
 
                              British Gas
                                 Online
                                Variable
    North Wales                 February
    & Liverpool  GBP1,443.64      2014     GBP1,137.76 GBP305.88  21.19%
 
                              E.ON Energy
    Midlands     GBP1,433.43    Discount   GBP1,117.86 GBP315.57  22.02%
 
                              British Gas
                                 Online
                                Variable
                                February
    Northern     GBP1,411.65      2014     GBP1,108.62 GBP303.03  21.47%
 
                              British Gas
                                 Online
                                Variable
                                February
    North West   GBP1,400.45      2014     GBP1,111.10 GBP289.35  20.66%
 
                              British Gas
                                 Online
                                Variable
    North                       February
    Scotland     GBP1,409.14      2014     GBP1,114.76 GBP294.38  20.89%
 
                              British Gas
                                 Online
                                Variable
    South                       February
    Scotland     GBP1,396.36      2014     GBP1,103.94 GBP292.42  20.94%
 
                              E.ON Energy
    South East   GBP1,415.25    Discount   GBP1,029.89 GBP385.36  27.23%
 
                              E.ON Energy
    Southern     GBP1,415.08    Discount   GBP1,124.09 GBP290.99  20.56%
 
                              E.ON Energy
    South Wales  GBP1,412.86    Discount   GBP1,127.26 GBP285.60  20.21%
 
                              E.ON Energy
    South West   GBP1,431.75    Discount   GBP1,136.49 GBP295.26  20.62%
 
                              British Gas
                                 Online
                                Variable
                                February
    Yorkshire    GBP1,397.46      2014     GBP1,098.69 GBP298.77  21.38%
 
    Average      GBP1,411.27               GBP1,110.01 GBP301.27  21.34%
 


[2] There are 21.6 million homes with both mains gas and electricity to their homes.

http://www.ofgem.gov.uk/Markets/RetMkts/Compet/Documents1/DRMR%20March%202007doc%20v9%20-%20FINAL.pdf

http://www.ofgem.gov.uk/Markets/RetMkts/rmr/Documents1/IpsosMori_switching_omnibus_2011.pdf

According to a survey by Ofgem, 59% of gas customers have never switched their supplier while 60% of electricity customers have never switched. Therefore at least 12,724,683 million households have never switched supplier.

12,724,683 x £301 (average potential saving swapping from incumbent to best energy supplier) = £3,830,129,583 or £3.8 billion

[3] Fixed deals coming to an end

                                                                    Saving by
                                                                    Switching
                                                                    to Market
                    Tariff                                           Leading
       Provider      Name     End Date   Energy Bill after End Date    Deal
                     Unifi
                    Capped
                    Energy
                     April
    Scottish Power   2013    31/03/2013         GBP1,368.45         GBP248.16
                    Capped
                     Price
                    Energy
    Scottish Power June 2013 31/03/2013         GBP1,368.45         GBP248.16
                    Online
                     Fixed
                     Price
                    Energy
                     April
    Scottish Power   2013    31/03/2013         GBP1,368.45         GBP248.16
                     Fixed
                     Saver
                     April
    Scottish Power   2013    31/03/2013         GBP1,368.45         GBP248.16


MoneySupermarket.com compares (at 27th Dec 2012)

  • 134 car insurance brands and 97 home insurance brands
  • 9 broadband providers and 20 energy providers   
  • 31 unsecured loan and 5 secured loan providers
  • 62 mortgage lenders and 26 credit card providers
  • 63 savings providers and 38 current account providers.
  • Over 650,000 mobile phone deals

Our customers

We help our customers to save money on all of their household bills by providing a free, easy to use online service so they can compare a wide range of products in one place and find the product most suited to their needs. Our size means we are able to offer our customers exclusive, market-leading deals, including some they can't even get direct from providers.

Our providers

By having considerable volumes of informed customers actively looking for products and ready to purchase, we offer our providers an efficient and cost effective customer acquisition solution across all of our channels. This enables our providers to target their marketing spend in an effective and completely measurable way.

Our revenue comes predominantly from fees paid to us by product providers when a customer clicks through to their website and actually applies for or purchases a product. It is a success based marketing fee.

Our customer commitment

  • We make it easy to find the brands you expect to see
  • We strive to ensure a product cannot be found cheaper by going direct
  • We let you remain in control of your personal data
  • We are independent and impartial
  • We make it easy to switch and save
  • We strive to always show the most competitive product available

For further information, please contact: 

Paul Lawler
MoneySupermarket
+44(0)1244-370-317
[email protected]


More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm ...
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
"We work in the area of Big Data analytics and Big Data analytics is a very crowded space - you have Hadoop, ETL, warehousing, visualization and there's a lot of effort trying to get these tools to talk to each other," explained Mukund Deshpande, head of the Analytics practice at Accelerite, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
The idea of comparing data in motion (at the sensor level) to data at rest (in a Big Data server warehouse) with predictive analytics in the cloud is very appealing to the industrial IoT sector. The problem Big Data vendors have, however, is access to that data in motion at the sensor location. In his session at @ThingsExpo, Scott Allen, CMO of FreeWave, discussed how as IoT is increasingly adopted by industrial markets, there is going to be an increased demand for sensor data from the outermos...
UAS, drones or unmanned aircraft, no matter what you call them — this was their week. Our news stream was flooded with updates on the newly announced rules and regulations for commercial UAS from the FAA. So, naturally we have dedicated this week’s top news round up to highlight some of our favorite UAS stories.
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2016 Silicon Valley. The 6thInternet of @ThingsExpo will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
CenturyLink has announced that application server solutions from GENBAND are now available as part of CenturyLink’s Networx contracts. The General Services Administration (GSA)’s Networx program includes the largest telecommunications contract vehicles ever awarded by the federal government. CenturyLink recently secured an extension through spring 2020 of its offerings available to federal government agencies via GSA’s Networx Universal and Enterprise contracts. GENBAND’s EXPERiUS™ Application...
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
When people aren’t talking about VMs and containers, they’re talking about serverless architecture. Serverless is about no maintenance. It means you are not worried about low-level infrastructural and operational details. An event-driven serverless platform is a great use case for IoT. In his session at @ThingsExpo, Animesh Singh, an STSM and Lead for IBM Cloud Platform and Infrastructure, will detail how to build a distributed serverless, polyglot, microservices framework using open source tec...
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discussed how businesses can gain an edge over competitors by empowering consumers to take control through IoT. He cited examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He also highlighted how IoT can revitalize and restore outdated business models, making them profitable ...
Presidio has received the 2015 EMC Partner Services Quality Award from EMC Corporation for achieving outstanding service excellence and customer satisfaction as measured by the EMC Partner Services Quality (PSQ) program. Presidio was also honored as the 2015 EMC Americas Marketing Excellence Partner of the Year and 2015 Mid-Market East Partner of the Year. The EMC PSQ program is a project-specific survey program designed for partners with Service Partner designations to solicit customer feedbac...
Apixio Inc. has raised $19.3 million in Series D venture capital funding led by SSM Partners with participation from First Analysis, Bain Capital Ventures and Apixio’s largest angel investor. Apixio will dedicate the proceeds toward advancing and scaling products powered by its cognitive computing platform, further enabling insights for optimal patient care. The Series D funding comes as Apixio experiences strong momentum and increasing demand for its HCC Profiler solution, which mines unstruc...
IoT offers a value of almost $4 trillion to the manufacturing industry through platforms that can improve margins, optimize operations & drive high performance work teams. By using IoT technologies as a foundation, manufacturing customers are integrating worker safety with manufacturing systems, driving deep collaboration and utilizing analytics to exponentially increased per-unit margins. However, as Benoit Lheureux, the VP for Research at Gartner points out, “IoT project implementers often ...
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
Connected devices and the industrial internet are growing exponentially every year with Cisco expecting 50 billion devices to be in operation by 2020. In this period of growth, location-based insights are becoming invaluable to many businesses as they adopt new connected technologies. Knowing when and where these devices connect from is critical for a number of scenarios in supply chain management, disaster management, emergency response, M2M, location marketing and more. In his session at @Th...
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...