Renters are potentially paying over the odds for their energy bills with a quarter we spoke to (25%) saying they have never changed their energy supplier, and half (51%) have been with their current supplier for more than five years.
Which? believes that the millions of households renting in the private sector could be missing out on huge savings on their energy bills as they may think the best deals aren’t available to them if they don’t know whether they will be in the same property in a year’s time.
Nearly one in five (17%) renters who took part in Which?’s energy satisfaction survey said switching would be too much hassle. More than eight out of ten (84%) renters are with one of the Big Six energy companies with separate research revealing three in ten (29%) think they would not save any money by switching.
Renters could be missing out on potential savings of an average of £346 over a year by switching from the most expensive Big Six standard variable tariff to the cheapest deal on the market.
To help renters see what savings they could make, Which? has launched a new energy switching service, as part of its Which? Switch website. This shows them the available deals based on the length of their tenancy.
Alex Neill, Which? Managing Director of Home Products and Services, said:
“It’s clear from our research that renters do not know how much they can save because all other price comparison sites default to an annual saving.
“Which? Switch is the only energy switching service where renters can compare potential savings based on the length of their tenancy.”
The independent energy comparison switching service Which? Switch can help renters to find the best deal that is available.The website allows deals to be compared which are based on the length of a tenancy, rather than the usual annual tariff price.
Notes to editors
Online survey in Sept 2017. Results based on the responses of 1,900 renters. (full energy satisfaction results here: http://www.which.co.uk/reviews/energy-companies/article/best-and-worst-energy-companies).
Populus surveyed 4,140 members of the general public in July 2017. 1,207 of these pay their energy bills and live in rented accommodation.
Savings can be made by switching from the most expensive standard variable tariff from a Big Six supplier (British Gas, EDF, NPower, Eon, Scottish Power, SSE) to the cheapest on the market. The savings are calculated as the difference between the annual cost of Npower’s standard tariff and the cheapest tariff available GB-wide. Data from Energylinx, based on a dual fuel tariff for a medium user (according to Ofgem average annual use of 3,100kWh electricity and 12,000kWh gas), paying by monthly direct debit, with paperless bills. Figures are an average across regions. Data correct at 8 October 2017.
There are 4.5million households in the private rented sector according to the Department of Communities and Local Government’s English Housing Survey 2015-16.
If renters have less than one year to run on their their tenancy, they can use Which? Switch to put in their tenancy end date as well as details from their energy bills, and are then provided with a list of suppliers and the potential savings.