Customers still paying out £1.9bn for energy bills
Recent energy price cuts will still leave households paying out £1.9 billion, according to uSwitch.com.
While double digit price hikes added a total of £2.24 billion on to household energy bills in just over a year single digit price cuts announced in the past week will wipe £340 million back off again - leaving consumers with a £1.9 billion shortfall.
Ann Robinson, director of consumer policy at uSwitch.com says: "This £34 or 2.6% cut in energy prices will seem like a drop in the ocean to cash strapped consumers, especially when compared with the £224 or 21% price hike seen since the end of 2010. The cost of energy has become a major household worry and these single digit price cuts will do little to change that. Affordability looks set to remain a concern.
"The fact is that these price cuts do not come anywhere near offsetting the eye watering price hikes that have hit consumers since the end of 2010. But while suppliers have reduced prices by £34, households could actually cut their own energy bills by up to £420[8] by moving to dual fuel, paying by direct debit and signing up to a competitively priced deal. Shopping around for a more cost effective deal could give you a bigger price cut than that currently being offered by suppliers."
