UK energy customers that do not swap suppliers could be missing out on huge savings totalling billions of pounds, according to new research by Gocompare.com.
The research has found that more than 50% haven’t switched in the last 3 years, missing out on approximately £4.6 billion in total. They also claim that companies reserve the best deals for new customers, failing their loyal customers.
Claire Peate, Customer Insight Manager at Gocompare.com said: “Those who believe their loyalty will be rewarded are sadly mistaken.
“The only way to be sure of getting the very best deal is to check for yourself by comparing what’s on offer from the competition. Don’t expect your loyalty to be rewarded with lower premiums or prices. If you’re happy to stay and pay, insurers, communication companies and energy providers will be laughing all the way to the bank.”
A quarter of consumers have never switched suppliers.