Business Personal Finance

Wednesday 21 March 2018

Householders unaware of big savings from energy deals

Stock image
Stock image
Charlie Weston

Charlie Weston

Huge levels of inertia have been revealed when it comes to savings on home energy bills.

Some four out of 10 people do not think they will save money if they switch providers, despite gains of more than €300 a year for those who seek out the best deals for electricity and gas.

Almost one in five households said they could not be bothered to switch to a lower-cost deal, the survey of 6,000 households from One Big Switch shows.

The results show the biggest reason households are not switching is because the benefits of switching are not widely recognised.

This is supported by the fact that just 8pc of households haven't switched because they "like their current supplier".

However, the majority of those who switched energy supplier in the past said they found the process easy, according to One Big Switch, a consumer network advocating that consumers move to a cheaper provider.

David Liston of the group said: "Apathy around switching and fear of the unknown are two of the biggest issues we face when trying to convince Irish consumers to shop around."

The survey was launched as a part of the Big Energy Switch, a nationwide people power campaign to cut the cost of electricity and gas in Ireland.

The campaign aims to use the buying power of 20,000 households to unlock group-discounted energy. Once unlocked, One Big Switch will encourage registrants to switch to the offer or use it to shop around.

Electricity and gas suppliers have been called on by consumer groups to cut prices.


Visit One Big Switch to find out more about the campaign.

Irish Independent

Business Newsletter

Read the leading stories from the world of Business.

Also in Business