Three Quarters of Renters Have Never Switched Energy Supplier

Ofgem’s 2014 Consumer Engagement survey has revealed a massive lack of awareness among tenants regarding their rights to switch suppliers, despite the considerable savings that can be made with different tariffs.

1 in 5 tenants didn’t know that they could change supplier, despite an Ofgem ruling that if you are directly responsible for paying your electric and/or gas bill (i.e. bills are not included in your rental payments) your landlord or letting agent cannot prevent you from switching without good reason.
Action and awareness are higher among homeowners, with 47% having switched gas supplier and 45% changing electricity supplier.

CEO of Ofgem, Dermot Nolan, has commented:

“The number of British households renting stands at 9 million and counting, yet research has shown that this group is not shopping around for their energy, and missing out on savings of up to £200.”

Summer is typically the best time to switch energy supplier, as prices are cheaper while it is warmer. If possible, try and look for a deal without an exit fee, that way you can switch again in the event of a price hike. You should always inform your landlord if you switch supplier.

iStock_000012193904Small
Switching could save you up to £200

If you’re struggling to pay your bills each month, or price hikes have left you in arrears, call one of our advisers today. We know that money troubles can happen to anyone, and we’ll give you the advice and assistance you need to get you back in control, with your finances on track.

At Harrington Brooks, we offer a switching service for our customers, alongside our partners Uswitch. Switching could save you hundreds of pounds, which makes a big difference when you are living on a budget.