LEEDS, UNITED KINGDOM -- (Marketwired) -- 04/08/13 -- UK consumers have been hit with hikes in gas and electricity from the leading 'Big Six' energy suppliers in recent months including British Gas, EDF, SSE, ScottishPower, Npower and E.ON. This has pushed up household energy bills by an average of 8%(1), putting a further strain on consumers' budgets.
Campaigners warn that the above inflation rises could send the number of households in fuel poverty - defined as spending more than 10% of income on energy - soaring from a figure of 6 million to 9.1 million(2).
Energy regulator Ofgem has recently welcomed the government's efforts to work towards a simpler, clearer, fairer energy market(3) for consumers to ensure that they are getting the best deal from their money.
Asda Money reveals how switching options could help to make consumers savings on their energy costs.
Securing the best tariff
There are a large number of tariffs available, and with costs varying widely depending on usage or even where you live, it can be difficult to identify a one-size-fits-all cost-effective deal. However, in general consumers could stand to make savings by opting for a dual fuel plan, as opposed to a gas-only or electricity-only plan, as well opting to make payments by direct debit. It is also important to ensure that the price quoted includes VAT, which is charged at 5%(4) on gas and electricity bills.
Comparing the market
Energy suppliers are constantly coming up with new tariffs in an effort to attract customers so comparing the market every nine to 12 months will help to ensure you can take advantage of the best deals at any given time.
Conducting an energy comparison on a regular basis will also help to ensure that your energy bills are more in line with your household budget and individual needs.
Notes to editors
1. http://www.telegraph.co.uk/finance/personalfinance/consumertips/househol d-bills/9775877/Winter-energy-bills-will-reach-530-a-quarter.html2. http://www.independent.co.uk/news/business/news/energy-price-hikes-send- inflation-to-sixmonth-high--with-more-pain-to-come-8420086.html3. http://www.ofgem.gov.uk/Media/PressRel/Documents1/responsetoDECC.pdf4. http://www.consumerfocus.org.uk/get-advice/energy/households/how-to- switch
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 (iii)
(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.
(iii)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, energyhelpline.com compare all suppliers in the UK to help you find the cheapest energy deal.
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