68% of households in Aberconwy could be missing out on energy savings of £327 a year
· Consumers in Wales who move from a standard tariff to a fixed tariff can save around £327
· Around 886,000[1] households in Wales are likely to still be on standard tariffs and could be better off moving to a fixed deal
· Shopping around has never been easier with everything you need at www.goenergyshopping.co.uk
Research published today by energy regulator Ofgem shows that up to 68 per cent of households in Wales could save up to £327 on their energy bill by moving from a standard tariff to a fixed deal.
Ofgem’s research also found that the majority of the cheapest tariffs were fixed with some deals at around £792 per year, compared to £1,119[2] for the average standard variable tariff with one of the larger suppliers. Research by Ofgem and the Competition and Markets Authority (CMA) shows that across the country around 68% of consumers are still on expensive standard tariffs. This trend would translate in Wales into around 886,000households on standard tariffs.
Janet Finch-Saunders AM said:
“I would encourage all my constituents to go energy shopping this winter.
“It’s now easier than ever to find the best deal and you could save up to £327 a year just by switching from a standard tariff to a fixed deal.”
Ofgem CEO Dermot Nolan said: “Ofgem’s research shows that many customers in Wales now could be better off to the tune of around £327 by moving from a variable rate to a fixed rate deal.
“Nearly half of all consumers switching are now moving to independent suppliers and not only are consumers benefiting from greater choice of supplier, but Ofgem has strengthened consumer protection for those choosing fixed tariffs.
“So there has never been a better time to go energy shopping and our Be An Energy Shopper website gives you independent advice on how to get a better energy deal and links to Ofgem-accredited switching sites.”
[1] Based on data regarding household sizes in 2011 census
[2] Average annual energy bill for a customer on a standard variable tariff with one of the larger suppliers, paying by Direct Debit