Customers not shopping around for better energy contracts miss out on £4.3 billion of savings

Customers who don’t shop around for the best available deal miss out on an estimated £4.3 billion of savings on their energy bills, a brand new report by market comparison service Gocompare has revealed.

The research found that more than half (54%) of UK customers participating in the poll have not switched their power providers in the last three years, missing out on potentially £4.3 billion in total, since most suppliers reserve the best deal for new customers.

Moreover, quite surprisingly, results of the poll suggest that close to an average of 25% UK consumers have never changed suppliers, missing out completely on savings opportunities.

Claire Peate, Customer Insight Manager at Gocompare.com said: “Those who believe their loyalty will be rewarded are sadly mistaken.

“The only way to be sure of getting the very best deal is to check for yourself by comparing what’s on offer from the competition. Don’t expect your loyalty to be rewarded with lower premiums or prices. If you’re happy to stay and pay, insurers, communication companies and energy providers will be laughing all the way to the bank.”

While changing suppliers and going for the best available deal certainly has its merits, the truth of the matter is that taking active steps towards the reduction of one’s energy consumption represents a much more solid source of savings, and this is specifically where HeatingSave can help.

The HeatingSave Building Energy Management System helps customers save more than 30% on their bills by optimizing any heating system’s overall functionality. This is done by taking into account a variety of factors, such as internal and external temperatures, occupancy, time of the year, the particular characteristics of installed boilers, etc. All of the data is used in order to determine the best heating patterns for the various heating zones within any building, using our proprietary heat-loss algorithm.

The end result is that users still get a very good level of comfort, while in the same time saving energy and money in the process.

If you’d like to find out more details on all the features HeatingSave has in store, just contact our dedicated product team, they’ll be more than happy to provide you with all the necessary information.