13.5 million households across the UK are missing out on their share of £2.7 billion by sticking with their energy company.
By shopping around and taking advantage of the best energy deals on the market, millions of people can save around £200 – and some can save even more.
The ëPower to Switchí campaign, launched today, encourages people to switch supplier and save money by visiting Be An Energy Shopperís website.
With 26 energy companies on the market and some fixed deals £100 cheaper than they were a year ago, thereís never been a better time to find a great deal, switch and save.
Launching the campaign, Energy and Climate Change Secretary Ed Davey said:
ìWhen it comes to switching, the power is in peopleís hands to get a better deal and save.
ìWeíve reformed the market so that there are more suppliers, more competition, and a much faster and simpler process to switch. That means millions of people can switch supplier and save hundreds of pounds today.î
Energy and Climate Change Minister Amber Rudd said:
ìWeíve already taken £50 off bills and now weíre urging people to take advantage of the most competitive energy market weíve ever had to save hundreds of pounds.
ìWith Ofgemís strengthened Confidence Code for price comparison sites, people will be able to have greater confidence than ever before that by switching, theyíll see real savings.î
The Governmentís programme of energy market reform includes:
ï Halving switching times – it now takes only 17 days to switch energy supplier down from 5 weeks last year
ï Encouraging new suppliers on to the market ñ there are now 20 independent suppliers
ï Legislating to back Ofgem reforms that force energy companies to make energy bills clearer ñ and providing information for customers about how to switch
Ofgem has recently strengthened its Confidence Code for price comparison websites, setting tighter standards on how tariffs are displayed with websites given until the end of March to comply.
The ëPower to Switchí campaign will run for four weeks and will include national, regional and online advertising, encouraging people to switch and save.
Save money on your energy bills by comparing Energy Prices with MoneyExpert.com and earn up to £25 cashback if you switch your gas and electric suppliers.