Energy companies - it's fair to say they've not always been the most well-respected of institutions: unexpectedly big bills, confusing tariffs, four-letter-word-inspiring automated telephone systems... we've all had bones to pick at one time or another.
Which is probably why it came as no surprise when Ofgem's 2014 State of the Market report revealed that 44% of consumers actively distrusted energy suppliers, with a further 27% saying they neither trusted nor distrusted suppliers. Further, only 5% of those surveyed said that they trusted their supplier completely.
And to top things off, in February The Independent reported that, despite their much-maligned bonuses and bailouts, energy companies were less trusted than banks. That's gotta hurt.
So then, why the lack of faith?
Ofgem's report revealed that 62% of customers thought there were too many tariffs from which to choose, whilst 56% didn't understand the range of different tariffs available. Research from earlier this year by Which? showed that only 28% of those surveyed could identify the cheapest energy deal when supplied with a series of tariffs using Ofgem's Tariff Comparison Rate.
The Price Isn't Right
The Competition and Market Authority's recent investigation into the energy market discovered that 95% of Big Six dual fuel customers could have saved between £158 and £234 a year by changing suppliers. It also revealed that despite a 75% and 125% hike in respective electricity and gas prices over the last ten years, around 70% of customers are on a default standard value tariff, and as such are overpaying by as much as £160 a year.
The obvious conclusion, then, is that energy users are largely unclear on what is the best price plan for them and that they don't understand the difference between what they should be paying instead of what they are paying.
How We Can Help Restore The Faith
Our easy 3-step registration process takes the torment out of tariffs. Just type your details into our homepage form and we'll do all the digging for you, before presenting you with a selection of best-offer quotes.
And because we're a buying group with the know-how and purchasing power to secure cheaper deals, we're perfectly placed to ensure the price is always right.
So why not give us a call on 0330 333 4107, and let us put the trust back into your tariff.