First Utility’s have released some shocking research about our energy bills here in the UK
It shows that UK households have overspent by £7bn in the last three years on their energy bills.
Let’s just process that figure shall we…7 billion pounds!
Shocking and absurd..really!
The research reveals that: 85% of energy customers are with the Big Six, and of those, 70% are on the most expensive Standard Variable Tariff. What a monopoly they have! and how awful so many are on the most expensive tariff
On top of that 55% of Big Six customers have been stuck on a Big Six ‘Standard Variable Tariff’ for more than three years. Each of these households has overpaid by an average of almost £800 over the last three years meaning around £7bn has been wasted on unnecessarily high tariffs.
The things you can do with £800 !
I’m thinking a holiday, a second hand car, a new three piece suite or perhaps a dining suite and more.
An Ofgem report recently revealed that the Big Six energy reached the highest level of profits on record.
Well that makes sense seeing as the have 7 billion extra pounds of the publics money!
First Utility criticises the Big Six for preying on disengaged customers and not doing much to ensure that customers are not overspending on their bills.
First Utility have put together a UK-wide overspend map which details the regions whose wallets have been hit the most as a result of being stuck on Standard Variable Tariffs for three years.
Take a look…….