A report by BBC watchdog established on 16th October 2013 stated that the vast majority of customers interviewed had not considered moving to a new Energy supplier as it was perceived as being "too complicated" and "not offering enough of a saving".
However a new study has proved that householders had managed to do half the job of reducing their energy spend buy adopting energy saving measures within the home but they now need to complete the job and move to a cheaper tariff as this is where the biggest and most immediate savings are found.
Switching commercial electricity supplier remained the easiest and cheapest way to ease the pain of spiralling energy prices. Despite the financial burden on consumers, up to 88% had failed to switch gas or electricity suppliers in the past 12 months.
Rising Fuel bills are to blame for disposable incomes being stretched...
According to figures from supermarket Asda's Income Tracker, the average household was £1 per week worse off last month compared to 12 months ago. Reports claimed that rising fuel bills were to blame for disposable incomes being stretched.
The situation is not looking good, particularly for consumers who are already feeling the pinch, as prices are likely to rise further once the colder weather sets in. That is why it makes sound financial sense to take the time to examine the tariffs of different suppliers, identify the cheapest and then switch. This is not as onerous as it sounds and financially could be well worth the effort.
People switching supplier is down although dissatistfaction with suppliers is up...
The release of the figures from Asda coincide with the release of a survey by energy regulator OFGEM, which found the number of consumers who had switched energy suppliers in the previous 12 months fell even though dissatisfaction with power companies rose.
The consumer engagement poll carried out by Ipsos Mori for OFGEM showed the proportion of consumers who switched gas and electricity suppliers in the previous year fell to 11% and 12% respectively.
The same poll revealed that consumers who said they were happy with their current supplier fell by 23%.
The OFGEM Survey shows that sticking with your current supplier could be a waste of time...
The findings are a cause for concern and the OFGEM survey shows that the vast majority of energy consumers could be wasting money by sticking with their energy supplier, even though they are dissatisfied with them.
Switching does not have to be complicated, especially if you use an independent and reputable price comparison and switching service like the Energy Advice Line. It costs consumers nothing and could save them a lot.