Energy market should give all consumers value for money on their bills

Energy market should give all consumers value for money on their bills

Citizens Advice has today called for the Competition and Markets Authority investigation to result in value for money for all energy customers. Early findings from the investigation have revealed more than 95 per cent of dual-fuel customers of the largest energy firms have missed out on savings of more than £200 a year by not switching tariffs or suppliers between 2012 and 2014.  

Gillian Guy, chief executive of Citizens Advice, said:

“Too few are getting value for money on their energy costs. The Competition and Markets Authority has confirmed that millions of consumers are left paying much higher prices because they are not among the savviest who have switched. Loyal customers on standard tariffs, prepayment meter users and those who don’t or can’t go online to find the best deal are losing out.  

“Keeping the lights and heat on are not luxuries. The market is not working if the burden is entirely on consumers to switch for them to benefit from falling wholesale costs. Recent price cuts from the largest energy suppliers have been wholly inadequate and delays in the cuts taking effect have lost households a further £47 million. The energy investigation must leave all consumers in complete confidence they are getting value for money on their bills.

“Whatever you are buying it’s important to shop around to ensure you’re getting the best deal. Customers who want to save money on their energy bill should get in touch with their supplier as soon as possible.”

Notes to editors:

  1. The Citizens Advice service comprises a network of local bureaux, all of which are independent charities, the Citizens Advice consumer service and national charity Citizens Advice. Together we help people resolve their money, legal and other problems by providing information and advice and by influencing policymakers. For more see the Citizens Advice website .

  2. The advice provided by the Citizens Advice service is free, independent, confidential, and impartial, and available to everyone regardless of race, gender, disability, sexual orientation, religion, age or nationality.

  3. To find your local bureau in England and Wales, visit citizensadvice.org.uk . You can also get advice online at adviceguide.org.uk

  4. You can get consumer advice from the Citizens Advice consumer service on 03454 04 05 06 or 03454 04 05 05 for Welsh language speakers

  5. Citizens Advice Bureaux in England and Wales advised 2.3 million clients on 5.4 million problems from October 2013 to September 2014. For full 2013/2014  service statistics see our quarterly publication Advice trends

  6. Citizens Advice service staff are supported by more than 21,000 trained volunteers, working at over 3,000 service outlets across England and Wales.