News Column

Do Energy Providers Make it Easy Enough to Switch Providers?

Mar 27 2013 12:00AM

Marketwire

Tracker

LEEDS, UNITED KINGDOM -- (Marketwire) -- 03/27/13 -- Asda Money looks at the process of switching energy suppliers, after Asda research shows that 94%(1) of consumers could save on the cost of their bills by making an energy comparison.

The government has recently published proposals that aim to get a better deal for consumers on the price of gas and electricity. This includes plans to encourage energy suppliers to provide customers with data that makes it easier to switch plans by smart phone or through third parties(2).

With energy customers making potential savings of GBP 331(3) a year by switching to a new provider, Asda Money reveals how simple the process of changing suppliers can be.

Essential information before you switch

To ensure that you are getting the best possible deal, you will need to gather information on your energy usage and current supplier before you switch energy providers. This will include the name of your supplier and details of spending on your gas and electricity in the past 12 months.

You should be able to locate information on how much energy you have used throughout the year on your annual statement, which will detail your energy spend in pounds and kilowatt hours (kWh).

Freedom to switch

The 'Big Six' energy companies including SSE, EDF, E.On, British Gas, nPower and Scottish Energy have signed up to a scheme that requires them to write to customers informing them of the best available tariff, a move that has been designed to smooth the switching process.

However, as this does not take account prices offered by other providers, consumers could still potentially make greater savings by moving to a smaller supplier.

If you supplier is planning to raise energy prices, you also have the freedom to switch to a cheaper provider, even if it is on the day prices go up. You should also not be charged to leave your contract early under these circumstances(4).

Asda Energy Compare and Save offers consumers the chance to switch and save in around 7 minutes, helping to cut the size of the energy bills(5).

Notes to Editors

(1) http://money.asda.com/energy-comparison/

(2) http://www.decc.gov.uk/assets/decc/11/consultation/better-deal-energy-consumers/6996-better-deal-energy-consumers.pdf

(3) http://money.asda.com/energy-comparison/

(4) http://www.consumerfocus.org.uk/get-advice/energy/your-energy-questions-2/staying-connected/understanding-energy-contracts

(5) http://money.asda.com/energy-comparison/

About Asda Energy Compare & Save

-- Customers can save up to GBP 331(i) per year-- All UK suppliers are compared-- 94% of customers can save(ii)-- Switching could take as little as 7 minutes+



(i)At least 10% of customers who used energyhelpline (providers of Asda Energy Compare & Save service) to switch their gas and electricity between 01/01/2011 - 01/03/2012 saved GBP 346 a year or more.

(ii)Based on over 100,000 people comparing their energy with energyhelpline between 29/03/2012 - 11/05/2012.

+At least 10% of customers who used energyhelpline (providers of Asda Energy Compare & Save service) to switch their gas and electricity between 01/08/2011 - 23/02/2012 took 7 minutes or less to complete the switch application.

Asda Energy Compare & Save is provided by energyhelpline. energyhelpline is a free and impartial independent price comparison service. Fully accredited by Consumer Focus, www.energyhelpline.com compare all suppliers in the UK to help you find the cheapest energy deal.



Contacts:
Press Contact
Paul Stevens
+44 (0)1925 611 026
paul.stevens@latitudegroup.com





Source: Marketwire


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