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Energy consumers in the Midlands could be overpaying on their annual bills by more than other UK regions if they have never switched supplier.
A report from comparison site MoneySuperMarket examined average annual bills across the UK and found that those living in the Midlands could benefit the most from a first-time switch – for those paying by cash or cheque the savings could be up to 28 per cent on their annual cost, or £369, while direct debit customers could save 23 per cent.
The average saving on energy bills for all other customers across the UK choosing the best price tariff currently in the market was 25 per cent or £323, compared to staying on with traditional energy suppliers.
Stephen Murray, energy expert at MoneySuperMarket said: “The message here is clear and simple– loyalty doesn’t pay, and households need to act to reduce the cost of their energy bill. Anyone who is still a standard energy customer of a traditional energy supplier for their region is missing out on hundreds of pounds worth of savings.”
He added, “Customers have the power to change energy tariffs and suppliers and they need to embrace it to potentially cut the cost of their bills by a quarter.”
A recent study by Which? found that two thirds of its members have never switched.
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