Research recently conducted by comparison site moneysupermarket.com electricity prices, has shown that the residents of southern Scotland pay the most for their dual fuel supply, compared with the rest of Britain.
Moneysupermarket’s aim was to find out just how much people were overpaying by on their energy, in order to encourage them to take a leap of faith and switch from their region’s incumbent provider. According to experts at the price comparison website, British consumers could stand to save up to a quarter on their energy bills – that’s £287.12 for per year for many residents in southern Scotland, for example.
Currently, it is estimated that British bill payers collectively squander around £3.2 billion per year simply by remaining loyal to their region’s often expensive energy suppliers. Householders are urged to get online and start finding out which energy supplier is cheapest in their area so that they can make the change and save a few hundred pounds per year.
The research by moneysupermarket also went on to highlight that British Gas currently provides the least expensive energy supply in 2011, with its Websaver 11 package having come out on top as the industry’s best value tariff in a whopping 13 out of the 14 UK regions assessed.
Quite simply, householders who have never thought to switch from their region’s standard energy supplier currently pay a great deal more for their energy than they would if they decided to compare gas and electricity prices and switch to the cheapest deal.
Utilities manager, Scott Byron, at Moneysupermarket.com explained: “In the days before the energy market opened up to competition, British Gas provided gas to all energy regions while electricity was provided by one regional supplier, for example London Energy in London which now falls under EDF Energy. Despite the greater choice available to consumers for both gas and electricity, the majority of UK households remain with the providers who traditionally provide their gas and electricity.
“Anyone still loyal to their incumbent supplier is over paying for their gas and electricity. At a time when all UK households are feeling the pinch from the rising cost of living, people are still burning money by not shopping around, using comparison sites and switching to a much cheaper deal. Finding the right tariff for your consumption level and region means bill payers could save on average £265 per year.”
Mr Byron also pointed out that buying an online tariff is the way to go: “The best value deals available are the energy companies’ online tariffs. They enable consumers to pay monthly installments, record actual meter readings with an online account and cut out the need for estimated billing. Paying by monthly direct debit allows consumers to spread the cost of their energy evenly throughout the year and avoid the ‘bill shocks’ that come after the costly winter months when energy usage is at a peak. If households aren’t on this kind of deal they really need to act now. Times are still tough and even though the warmer months are on the way, there is never a bad time to start saving money on your energy bills.”