UK inflation rate jumps to 1.6% SSE Energy Bills rise by 7.9%. What gives and what can I do to stop this affecting my bills?
Following on from Scottish Power, SSE has become the latest of the “big six” energy suppliers to raise its prices, with no tangible sign of reprieve. To put this into perspective, a typical dual fuel customer will see their annual bill rise by 6.9%, translating into an additional £73.
The energy market can be something of an untamed beast at the best of times, and if the latest news is anything to go by, this proverbial beast has been well and truly unleashed for many years to come. It was announced last week that over a million Scottish Power customers will see their energy…
The voice of serious concern has been raised in parliament stating six major UK energy suppliers punish consumers for loyalty.
MPs have started a debate last week stating the big energy firms often switch the customers on to more expensive deals with variable rates after their lower agreed tariffs expired. This is being done without the customers’ being informed of the change. Energy suppliers tend to do that on a regular basis, making the “rip off” tactics a systematic practice in the business.
This sort of exploitation does not happen in any other industry, noted John Penrose, with the long term customers suffering much higher energy bills compared to new customers.
Former Tory minister introduced a “relative price cap” scheme with the aim to protect the most loyal consumers of leading energy suppliers. The proposed solution will regulate transfer to a new tariff which cannot be more than 6% more expensive than the last one.
Supplier switches have surged to a six-year high, due to desperate homeowners shopping around for cheaper gas and electricity deals.
According to the regular, Ofgem, consumer switching reaches record high of 7.7 million energy provider swaps in the last year alone, with switching sites enabling consumers to take back control of their costings.
Recently, Britain’s energy market has come under increasing, political scrutiny, with claims that all homes are affected with even greater emphasis on poorer households.
For Ofgem’s Chief Executive, Dermot Nolan, this unprecedented rise in switching is a sign of things to come:
‘This welcome increase in switching should serve as a warning to supply companies.’
‘If they fail to keep prices under control, or do not provide a good service, they risk being punished as consumers vote with their feet.’
Most energy suppliers have a range of competitive plans available to consumers looking to switch their current provider.
People go through the hassle of changing their current energy suppliers with money saving goal in mind.
What do you need to get your energy supplier switch process under way?
Details of your current tariff
It is important that you go through your recent bill of your gas and electricity and have your usage or monthly spending information ready. You can pull these figures out from your annual statement as well.
If you are finding it difficult to read your statements from your energy supplier, you can choose to call to speak to a customer service adviser.
Please note that in case you haven’t got your gas/electricity statement available to you, you can still compare the tariffs using a comparison tool like MyEnergy.
Exit fees from your provider
Make sure you know exactly what to expect when you decide to stop your custom with your existing gas and electricity providers. Bear in mind that the savings to be made after you have switched, will cover the necessary outgoings.
To speed up with the energy suppliers switch process, you will need to settle the outstanding bills with your previous provider.
Your postcode, Bank details
Once you have established the above, all you need is your postcode and bank details should you want to finalise your energy plan switch.
Become an Energy Shopper
According to Which? survey, two thirds of British people had never switched energy provider. The so called, energy supplier loyalty doesn’t seem to be rewarded. Therefore, it makes perfect sense to look for a better deal elsewhere and become an Energy Shopper.
It is important to realise that energy suppliers regularly change their tariff plans. As mentioned above, it is the new customers, not the loyal ones, that have attractive offers available to them.
Once you have gathered the relevant information, make sure you go ahead and use online comparison tool to make sure you have the most accurate data to make an informed decision.
MyEnergy free comparison tool allows you to do just that, shop around the best energy deals suitable to your individual needs. By regularly tracking all the changes on the energy market, you can be sure to receive the most up to date results.
Also, check here for more information on switching your energy supplier.
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