uSwitch reported that consumers are continuing to lose out, as the majority of suppliers are continuing to charge over-inflated rates for gas and electricity, even though wholesale prices have started to fall. The website accused energy suppliers of using ‘smoke and mirrors’ to make their customers believe that they are getting the best deal.
Ann Robinson, uSwitch’s director of consumer policy, commented: It’s not unreasonable to expect some generous reductions now that wholesale costs have fallen.
Ms Robinson continued: The suppliers are relying on apathy and on existing customers sticking with them regardless, even though they could not be making it clearer that there is no reward for loyalty.
Ms Robinson also accused energy suppliers of ignoring loyal customers in a bid to attract new custom through attractive online deals. Ms Robinson concluded that, if the 10 million UK consumers who loyally stick to their energy suppliers shopped for a better deal, the UK could save up to GBP2.25 billion.
