BRITS overspend by £2billion a year on their energy bills because they fail to change suppliers, campaigners say.
Over 11 million households remain with the same supplier for over 12 months and have missed out on a potential average annual saving of £187, according research from Look After My Bills.
The Sun previously revealed how from April 1 UK households were hit with 11 price hikes with the average annual energy bill increased by £117.
Energy watchdog Ofgem announced in February it was increasing its price cap — allowing Big Six firms to raise default tariff prices to £1,254.
Customers who switch avoid pricey standard variable rates and could save hundreds.
Be in control of your bills – and save an average of £219
SWITCHCRAFT is a free service that finds you the right energy deal – and you could save an average of £219 a year.
- Sign up, compare and switch with Switchcraft
- You’ll automatically be switched at the end of your new plan when a cheaper deal comes up
- Get £5 free cashback when you sign up
Look After My Bills launched last year after its founders struck the best deal ever in Dragons’ Den and secured a £120,000 investment from Jenny Campbell and Tej Lalvani for just three per cent of their business.
Dragon Jenny Campbell said: “So many people are too busy to switch every year, meaning they get punished with ever-increasing, non-competitive, energy bills.”
Co-founder Will Hodson added: “Realising that the UK is wasting over £2bn by being on the wrong tariff has really motivated us to keep working for consumers and to fix the energy market.”