Which? response to Ofgem raising its safeguard tariff

Alex Neill, Which? Managing Director of Home Products and Services, said:

“This is bad news for the most vulnerable consumers, particularly given the safeguard tariff was already far from the cheapest deal on the market. It demonstrates why energy companies should be doing much more to get all their customers off expensive tariffs.

“Anyone overpaying on a poor value tariff should look to switch away to a better deal immediately as prepayment customers could save £158 a year, while those on standard variable tariffs may save almost £400 a year.”

Notes to editors:

• Customers looking for cheaper energy deals can compare deals with Which? Switch, a transparent and impartial way to compare energy tariffs and find the best gas and electricity supplier.
• Saving is the difference between the safeguard tariff cap (as of 1st October 2018) and the cheapest prepayment meter tariff, which is £158 a year, based on a dual-fuel tariff available in all regions of England, Scotland and Wales for a medium user (using Ofgem averages of 3,100kWh of electricity and 12,000kWh of gas per year), paying by prepayment meter, with paperless bills. Data is from Energylinx. Prices given are averages across regions, are rounded to the nearest whole pound and correct on 07 August 2018.
• The other saving is the difference between the priciest Big Six standard tariff and the cheapest tariff, which is £377 a year, based on a dual-fuel tariff available in all regions of England, Scotland and Wales for a medium user (using Ofgem averages of 3,100kWh of electricity and 12,000kWh of gas per year), paying by monthly direct debit, with paperless bills. Data is from Energylinx. Prices given are averages across regions, are rounded to the nearest whole pound and correct on 07 August 2018.

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