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Should You Switch Energy Providers?

LEEDS, UNITED KINGDOM -- (Marketwire) -- 12/10/12 -- British Gas, Npower, EDF Energy, SSE and Scottish Power have all announced price hikes to the cost gas and electricity, which will increase household bills for millions of people this winter.(i)

Asda Money could help you save up to GBP 331 a year by switching energy providers with their online Energy Compare and Save tool.(ii)

British Gas has announced a price hike of 6% affecting both types of fuel, adding an extra GBP 80 to the average annual dual fuel bill. Npower is increasing the price of gas by an average of 8.8% and electricity by 9.1%.

The energy price hikes are set to come into effect this winter, with SSE customers already seeing a 9% increase to prices in October.

Five of the 'big six' energy suppliers have increased their tariffs and with just one left to go, now could be the ideal time to shop around and switch suppliers.

E.ON has promised not to increase the price of gas and electricity this year, however there is a possibility that prices could rise at the beginning of 2013.(iii)

The cost of energy is only set to rise so it could be worth shopping around for a better tariff in the near future.

Switching providers could make a significant difference to household bills, shaving off hundreds of pounds off the annual energy bill.

Figures from watchdogs, Consumer Focus and Citizens Advice, show that a staggering six million households plan on cutting back on their heating this winter because they are concerned about the cost of rising energy bills.(iv)

Despite this, only a third (33%) of consumers use a price comparison service when switching. Asda Money could help you compare gas and electricity prices with the Energy Compare and Save tool.

There are several different types of energy tariff available and it could be worth trying to find the best deal for you and your circumstances. For example, a fixed rate tariff might not be subjected to sudden price hikes and an online tariff might be easier to manage for some.

Notes to editors

(i)Source: The Telegraph http://www.telegraph.co.uk/finance/personalfinance/consumertips/household-bills/9635226/EDF-increases-energy-prices-by-11pc.html.

(ii)Source: Asda Money, http://money.asda.com/energy-comparison/.

(iii)Source: BBC, Gas and electricity price battle lines drawn, 14/05/12 http://www.bbc.co.uk/news/business-18058557.

(iv)Source: Consumer Focus, Customers missing out by not shopping around for the best energy deal 24/10/12.

About Asda Energy Compare & Save


--  Customers can save up to GBP 346(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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paul.stevens@latitudegroup.com

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