Ofgem publishes first standard variable tariff league table

The first energy supplier league table has been published to show the numbers of people on standard variable tariffs and price difference compared to the cheapest deals.

The supplier with the highest percentage of customers on its standard variable tariff (SVT) is Utility Warehouse (94 per cent), with a £150 difference between its SVT and cheapest tariff.

The supplier with the biggest difference of £261 between its SVT and cheapest tariff is Npower, whilst Eon and Ovo’s customers only see a difference of £41 and £67 respectively between the SVT and cheapest tariff. First Utility also performed well, with only 9 per cent of its customers on its SVT which is £157 more expensive per year than its cheapest deal.

SSE is the supplier with the second highest proportion of customers on an SVT (91 per cent), followed by British Gas (74 per cent).

Published by Ofgem, the league table compares the average energy bill paid by someone on an SVT of the larger energy companies, with the deals available from the 10 cheapest suppliers.

Business and energy secretary Greg Clark said: “Millions of people across Britain continue to pay too much for their energy. The measures announced today are a positive step to help more people benefit from increased choice and competition.

“As the government has made clear, where markets are not working for consumers – in energy or otherwise – we are prepared to act.”

Citizens Advice added that the league table will “lift the lid” on the price difference between SVTs and cheaper deals. The charity also urged energy companies to move low income customers to a cheaper deal.

Which? managing director of home and legal services Alex Neill echoed calls for suppliers to do more, saying: “Publishing more information about the amount that people could save from switching is unlikely to make much difference to the millions of people paying over the odds on expensive standard tariffs. Instead, we need to see much more action by energy suppliers this winter to genuinely engage with their customers on poor value deals.”

Government has also launched a call for evidence on implementing better access to customers’ energy use data to make switching easier.

The consultation launched today will allow bill payers to access electronic data on how much energy they use and share it with a third party such as a price comparison website to help them tailor quotes to individuals.

The measures are part of a move to increase transparency for consumers, help more households benefit from a competitive energy market and ensure customers can access their usage data and share this securely when switching.