The popularity of the Big Six energy suppliers appears to be waning, as more and more people are favouring smaller providers when they switch firms.
Those who have had boiler repairs in Hull and now have a much more energy-efficient system will want to make the most of their new machinery and not spend money unnecessarily.
That is why Brits have become very savvy, switching energy suppliers when their tariff comes to an end to avoid paying higher bills on the company’s roll-on variable fees.
According to GoCompare.com, 51 per cent of customers who swapped energy supplier for gas and electricity between October 1st and December 31st last year made a saving of £207 or more.
Some of the biggest savings can be made by switching to a smaller supplier, with 58 per cent of people opting for lesser-known providers.
Ben Wilson, spokesperson for GoCompare.com Energy, noted smaller suppliers offer the “cheapest energy deals”, which is why they are attracting so many more customers.
He stated some companies are offering dual fuel tariffs for less than £770 per year, which can only be matched by one of the Big Six suppliers via Sainsbury’s Energy deal, which is in partnership with British Gas. This is available for £750 per year, with a £30 per fuel exit fees.
Mr Wilson reassured energy customers about the uncertainty of choosing a provider they have not heard of before, saying: “These suppliers are subject to the same Ofgem licencing conditions as their bigger counterparts and their customers benefit from the same protections too.”
GoCompare.com found the cheapest energy deal belonged to Avro Energy for £744 per annum with no early exit fee. This is a saving of £322 against the standard bill of the Big Six.
This comes after the comparison website advised energy users to switch tariffs by the end of April to save themselves £152 on their energy bills. On April 30th, 17 fixed-rate dual tariffs expired, with 11 of these resulting in more expensive bills on the variable tariffs of the providers.
Those who did not move supplier may have seen their bills increase by 16.34 per cent.
Although Mr Wilson noted that few people think about their heating bills during the springtime when the weather is warmer, this could be a “costly mistake”.
Households should be wary of spending any money unnecessarily, particularly as Scottish Widows has recently revealed one in five would not have enough finances to cover them if they lost their income.
Its research found just 25 per cent of Brits could pay their bills for a maximum of three months if themselves or their partner could not work due to long-term illness.
Despite this, lots of people prioritise expenses such as the internet and mobile phone bills over protecting themselves against the unexpected so they can continue to pay their fuel or mortgage charges if they cannot go to work. Indeed, while 81 per cent think an internet connection is essential, only 32 per cent have life insurance and just nine per cent have critical illness cover.