June 11, 2019

66% of consumers still using price comparison websites to switch energy

Comparing energy prices isn’t fun and many people find it confusing to try and work out how one tariff differs from another. For many years price comparison sites have been the first choice for consumers thinking about switching their energy supplier or those wanting to look and compare their current energy tariff with others.

But, with more and more people signing up to websites offering energy auto-switching, have the traditional comparison sites had their day? We think it's not going to be too long before auto-switching becomes the norm as people realise they don’t need to spend hours scrolling through long lists of tariffs that all look the same.

Ofgem, in conjunction with Citizens Advice, ran a survey which tracks consumer perceptions of the energy market, covering a range of topics including how satisfied they are with their energy supplier, their understanding of their energy tariff and their attitude to switching.

Comparing and switching gas and electric supplier 2019 stats
Almost half of people have never switched supplier at all, with 22% having never even considered switching.

Almost half have NEVER switched energy supplier.

Possibly the most concerning statistic in the survey is the fact that almost half (48%) of the people said they have NEVER switched energy supplier, with 23% saying they considered it, but never got round to it and 22% having never even considered it!

The vast majority of these customers who have never switched will be on their suppliers standard/default tariff. This is usually the most expensive tariff offered and can be hundreds of pounds a year more expensive than other tariffs the supplier provides

With Flipper members saving an average of £385 when they first switch there’s a massive amount of money waiting to be saved by those households.

Two-thirds of those that have switched used a Comparison Site.

When asked about switching 2/3rds (66%) of the households who said they had switched had used a price comparison website (PCW) – which is not that surprising. However, only 63% of those used the PCW to compare AND switch. 31% only used the PCW to compare suppliers – these savvy consumers were probably aware that they were unlikely to get the best deal by switching to a supplier through a comparison site (there's 96% chance you won't get the best deal using a comparison site).

Only 1 in 4 people have heard of the Price Cap.

To try and protect the people that haven’t switched which, as noted above, is nearly HALF the population, Ofgem introduced a price cap on 1st January this year. This put a limit on the cost of standard/ default tariffs by limiting what suppliers can charge per unit of energy, not the total amount charged. However, this limit is well above the price of the best deal available and customers ‘protected’ by the cap are still overpaying by hundreds of pounds every year on their energy bills.

If you weren’t aware of the cap, you are not alone. The survey found just 1 in 4 people are aware of the Price Cap and 1 in 5 are still unsure on how it works, thinking it limits the total amount they will be charged no matter how much energy they use… which could cause a big problem when these people get their next energy bill.

Awareness of energy price cap in the uk
Just 1 in 4 people are aware of the Price Cap! And 1 in 5 are still unsure on how it works thinking it limits the total amount they will be charged no matter how much energy they use.

Why aren't people switching energy supplier?

Switching energy is still seen as a ‘hassle’ or ‘confusing’ and hearing stories from people who tried to switch using a comparison site who say ‘never again’ doesn’t help.

That's why we created Flipper and energy flipping. Flipper invented auto-switching technology in 2016 to take away the hassle associated with switching. Our auto-switching service does all the hard work for you and continues to check the market every month, flipping you every time we find a better deal which will save you at least £50 per year.

And as Flipper doesn't take any commission from suppliers we can flip you to a wider range of tariffs (although we don’t flip to anyone who doesn’t provide a good service).

Who else is auto-switching energy?

Since Flipper launched a few more companies have entered the market and there are even a couple of the big comparison sites who are now claiming to offer an auto-switching service. But all of these alternatives make their money by taking commission from suppliers, which means they can’t switch you to as wide a range of deals or switch you as often – so aren’t really what we would call auto-switchers. Take a look at our article which shows Flipper vs some of the others offering different switching services.

So, if you're one of those people who either haven't got round to switching, or even thought about it before, you could save a considerable amount on your energy bill without the hassle and confusion with Flipper. It’s the easier, automatic way to switch and never worry about overpaying on your energy bill, ever again.

See how much you can save - Try Flipping.

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Join Flipper and never overpay for energy again. We guarantee to save you money or you won't pay a penny.

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