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
Michael Maximilien, better known as max or Dr. Max, is a computer scientist with IBM. At IBM Research Triangle Park, he was a principal engineer for the worldwide industry point-of-sale standard: JavaPOS. At IBM Research, some highlights include pioneering research on semantic Web services, mashups, and cloud computing, and platform-as-a-service. He joined the IBM Cloud Labs in 2014 and works closely with Pivotal Inc., to help make the Cloud Found the best PaaS.
Headquartered in Plainsboro, NJ, Synametrics Technologies has provided IT professionals and computer systems developers since 1997. Based on the success of their initial product offerings (WinSQL and DeltaCopy), the company continues to create and hone innovative products that help its customers get more from their computer applications, databases and infrastructure. To date, over one million users around the world have chosen Synametrics solutions to help power their accelerated business or per...
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and ...
Dion Hinchcliffe is an internationally recognized digital expert, bestselling book author, frequent keynote speaker, analyst, futurist, and transformation expert based in Washington, DC. He is currently Chief Strategy Officer at the industry-leading digital strategy and online community solutions firm, 7Summits.
Founded in 2000, Chetu Inc. is a global provider of customized software development solutions and IT staff augmentation services for software technology providers. By providing clients with unparalleled niche technology expertise and industry experience, Chetu has become the premiere long-term, back-end software development partner for start-ups, SMBs, and Fortune 500 companies. Chetu is headquartered in Plantation, Florida, with thirteen offices throughout the U.S. and abroad.
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
From 2013, NTT Communications has been providing cPaaS service, SkyWay. Its customer’s expectations for leveraging WebRTC technology are not only typical real-time communication use cases such as Web conference, remote education, but also IoT use cases such as remote camera monitoring, smart-glass, and robotic. Because of this, NTT Communications has numerous IoT business use-cases that its customers are developing on top of PaaS. WebRTC will lead IoT businesses to be more innovative and address...
Rodrigo Coutinho is part of OutSystems' founders' team and currently the Head of Product Design. He provides a cross-functional role where he supports Product Management in defining the positioning and direction of the Agile Platform, while at the same time promoting model-based development and new techniques to deliver applications in the cloud.
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
IoT is rapidly becoming mainstream as more and more investments are made into the platforms and technology. As this movement continues to expand and gain momentum it creates a massive wall of noise that can be difficult to sift through. Unfortunately, this inevitably makes IoT less approachable for people to get started with and can hamper efforts to integrate this key technology into your own portfolio. There are so many connected products already in place today with many hundreds more on the h...
In his session at Cloud Expo, Alan Winters, U.S. Head of Business Development at MobiDev, presented a success story of an entrepreneur who has both suffered through and benefited from offshore development across multiple businesses: The smart choice, or how to select the right offshore development partner Warning signs, or how to minimize chances of making the wrong choice Collaboration, or how to establish the most effective work processes Budget control, or how to maximize project result...
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abilit...
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
No hype cycles or predictions of zillions of things here. IoT is big. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, Associate Partner at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He discussed the evaluation of communication standards and IoT messaging protocols, data analytics considerations, edge-to-cloud tec...
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 settl...
In his session at @ThingsExpo, Dr. Robert Cohen, an economist and senior fellow at the Economic Strategy Institute, presented the findings of a series of six detailed case studies of how large corporations are implementing IoT. The session explored how IoT has improved their economic performance, had major impacts on business models and resulted in impressive ROIs. The companies covered span manufacturing and services firms. He also explored servicification, how manufacturing firms shift from se...
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
Organizations planning enterprise data center consolidation and modernization projects are faced with a challenging, costly reality. Requirements to deploy modern, cloud-native applications simultaneously with traditional client/server applications are almost impossible to achieve with hardware-centric enterprise infrastructure. Compute and network infrastructure are fast moving down a software-defined path, but storage has been a laggard. Until now.
Digital Transformation is much more than a buzzword. The radical shift to digital mechanisms for almost every process is evident across all industries and verticals. This is often especially true in financial services, where the legacy environment is many times unable to keep up with the rapidly shifting demands of the consumer. The constant pressure to provide complete, omnichannel delivery of customer-facing solutions to meet both regulatory and customer demands is putting enormous pressure on...