British energy suppliers overcharge by £3.4billion a year
Up to 14.3 million dual fuel customers of the Big Six energy suppliers are paying on average £235 too much each year, smaller supplier First Utility has recently claimed.
It claimed that two-thirds of Big Six customers are on the most expensive tariffs. Customers can opt for fixed tariffs which are set for up to three years and provide price stability. But if a customer does not renew their fixed tariff they usually go automatically onto a standard variable tariff where the bill will reflect the ups and downs of market prices for energy.
McCaig, CEO, First Utility said: “The UK energy industry has contrived to put itself in a situation where around two-thirds of its customers are on the most expensive energy tariff the industry has to offer, namely the ‘standard variable tariff’.
“That simply can’t be right and is even more inexcusable in a climate where wholesale prices have been coming down.”
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