Big Six energy customers ‘overspending by £4bn a year

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ELN reports: Energy consumers supplied by the Big Six are paying £4 billion more for their gas and electricity.

That’s according to new research which states the figure is equivalent to an average of £234 per household – an increase from a total of £3.4 billion last year, meaning householders have blown away £600 million of savings.

Earlier this year the competition watchdog revealed householders have been paying around £1.7 billion a year more than they would in a competitive market while businesses are overspending by £280 million.

First Utility claims the latest increase is due to more than 85% of energy customers still being supplied by the six large suppliers – British Gas, EDF Energy, E.ON, npower, ScottishPower and SSE.

It adds 70% of them are on the standard variable tariff, i.e. “the most expensive tariff”.

While these figures relate to domestic customers; many commercial clients are also paying over the odds on variable tariff or even an excessive deemed rate without realising. In addition many customers blindly accept their supplier’s renewal offer typically 25% higher than a negotiated contract rate.

For your peace of mind in getting a competitive deal – contact Alpine Utilities Ltd today.