More people are satisfied with their energy supplier, but 50% of households are still overpaying on their energy bills

Many are missing out on cheaper tariffs

energy bills
(Image credit: Getty)

Ofgem's latest customer service highlights survey reveals that 74% of customers claim to be ‘satisfied’ or ‘very satisfied’ with their energy supplier. This figure is up from the 71% reported in Q1 this year. The data also shows that consumer complaints have fallen by 30% in the same time period. 

While overall satisfaction has increased across all supplier groups - not just the best energy suppliers - the survey shows that the highest levels (79%) were for medium suppliers, followed by smaller firms (77%) and large suppliers (72%). Interestingly, the survey was undertaken at the height of the COVID-19 pandemic, when many suppliers put extra support in place for their customers – which may have had an effect on their ratings.

The lower satisfaction levels for larger suppliers is in line with recent reports that more and more consumers are moving away from the Big Six. Instead, they're switching to small or mid-size firms like Octopus Energy and Bulb Energy – who are championed for their high-quality customer service. (If you're interested in switching, a quick energy comparison will show you the best energy deals in your area.)

Save by switching supplier

Ofgem’s survey also shows that there’s been an increase in the number of consumers that are ‘satisfied’ or ‘very satisfied’ with the ease of comparing the markets and switching to a new supplier (87% and 83% respectively). 

These positive stats will be welcome news for those who have yet to switch, as according to MoneySuperMarket (MSM), some 11 million – approximately 50% - of UK households - could save around £189 a year on their energy bills by moving to a new provider. 

These households are on default standard variable tariffs (SVTs), and MSM believes they are relying on the upcoming price cap in October to lower their utility costs. 

However, while the new cap will reduce energy bills for many, there are still some 80 tariffs on the market that are cheaper than the SVTs, even after the cap comes into effect. MSM claims that as many as 99.88% of customers could save upwards of 18% by switching to a deal with a more favourable rate.

energy bills

Switching supplier is a quick way to reduce your energy bills

(Image credit: Getty)

Stephen Murray, energy expert at MoneySuperMarket, says: “While the price cap may limit what you will pay, it does not limit what you can save, so relying on it to reduce your bills is unlikely to pay off. Savings are still possible for over 99% of the 11 million households on default standard variable tariffs, so switching your supplier is a quick and effective way to save money over and above the cap.“

“Those who haven’t switched energy supplier in over a year will in many cases be paying over the odds for their energy, despite the announcement of the revised energy price cap. The power region you live in will dictate exactly how much you’re able to save, but with potential savings of £189 this could have a noticeable impact on your bills.“

“Our advice is to regularly review your energy bills and to shop around for the best deal in order to take control of your finances.”

How to make the switch

Much like Ofgem’s data suggests, if you haven’t started comparing the market, or you’ve yet to switch, by using an online energy comparison service like ours the entire process can be easy and straightforward.

We've teamed up with MoneySuperMarket on our comparison service, which lets you quickly see the best energy deals in your area. You can filter your results by different tariff types and features, and you’ll be able to see how much you can save, plus what options there are on alternative tariffs from green energy suppliers.

FIND THE BEST ENERGY DEAL FOR YOUR HOME
We've partnered with MoneySupermarket to help you find the best energy deals in your area. Our energy comparison tool takes less than five minutes to use, and could save you hundreds on your energy bills. Simply filter your results to show green suppliers, and we'll show you the best tariffs in your area - plus our latest exclusive offers. Save money on your energy bills now