- 13
- Jun
Many Britons could be developing debt management difficulties after a new study indicates that only one in eight are actually on the cheapest deals advertised by utility providers.
According to research by uSwitch.com, some 12.5 million households are paying "over the odds" for their energy because they are on a standard rather than an online tariff, which in turn could affect their abilities to make personal loan repayments.
However, online energy tariffs were reported to account for one in eight (13 per cent) of consumers.
Energy expert Geoff Slaughter said: "Suppliers are playing a very canny game. By deliberately offering their cheapest prices on those tariffs with low take-up they can look competitive, attract new customers but keep their existing customers merrily paying over the odds."
The study also revealed those customers who switch to an online tariff with the same supplier could save up to £187.
Last week, moneysupermarket.com revealed that choosing the most competitive gas, electricity or ‘dual fuel’ supplier, could save consumers hundreds of pounds which could help with debt management and repaying Loans.
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