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Consumers Braced For Yet Another Energy Price Rise
Research shows 71% of households expect energy prices to increase again by the end of the year
A total of 833 household bill payers gave their predictions for the remainder of 2014 as follows:
- 71% think that energy prices will go up
- 25% think they will stay the same
- 4% think they will go down
When asked whether another increase in energy prices concerned them more or less than the prospect of power cuts due to shortages, an overwhelming 85% of respondents said bills worried them more than blackouts.
Meanwhile a Make It Cheaper poll among hundreds of business owners shows a similar proportion think that non-domestic energy prices will not only be going up this year but also again in 2015 as well. This, despite the current political focus on keeping energy bills down. In fact only a quarter (26%) of businesses asked by Make It Cheaper expect energy prices to be frozen in 2015.
Jonathan Elliott, founder & CEO of Make It Cheaper commented: "These figures would explain why so many more people are sensibly opting for longer-term, fixed price energy deals. For example, of the last 1,000 tariffs we've arranged, 926 of them have been for a fixed period of time with some now not expiring until mid-way through 2017."
For any households currently looking for a new fixed tariff, the best deal on the market is the one year 'Cheaper Energy Fixed' from Ovo Energy. This costs an average of £1,015* per year, saving an average of £184 when compared to typical standard tariffs. For businesses interested in moving to cheaper tariffs, all new prices are quoted over the phone on a bespoke basis (with any business asking Make It Cheaper to arrange a switch before the end of April 2014 being entered into a prizedraw for a year's free energy, worth up to £10,000).
Visit www.makeitcheaper.com or call 0800 1884 999 for more details.
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*Based on 3,200kWh of electricity and 13,500kWh of gas per year per year. Shows average price across all regions and assumes payment is made by monthly direct debit.
Case studies of those recently signing up to Ovo's 'Cheaper Energy Fixed' via Make It Cheaper:
- Thea Flint, aged 60 from Grimsby, who used Make It Cheaper to switch for the first time, said: "I thought it would be a nightmare to change. The gentleman that I talked to could not have been more helpful. He put me at ease and also explained everything."
- Keith Watkins, aged 58 from Stourbridge, will save £459 this year as a result of using Make It Cheaper: "Excellent; easy to use site."
- Beverley Whipps, aged 53 from Bexleyheath, will save even more (£637): "I thought this was a brilliant service. The staff were friendly and very well informed."
- Thomas Cornes, aged 74 from London, added: "My contact, Jack, was VERY helpful and reassuring. A previous attempt to switch elsewhere was foiled by my new supplier incorrectly insisting that I had an E10 meter when it is a E7 meter! Jack confirmed the correct meter and OVO got the business as a result of his recommendation."
About Make It Cheaper: Based in Central London with 140 staff, Make It Cheaper has been the No.1 destination for businesses to get a better deal on their utilities since its launch in 2007. Following its acquisition of UK Power in 2012, Make It Cheaper also now provides competitive energy prices and expert advice for households. It offers prices from 22 domestic & 16 non-domestic energy suppliers to form the widest panels of any price comparison website. For businesses and charities Make It Cheaper also offers savings across other overheads including: telecoms, insurance and merchant services (Chip & PIN). By switching suppliers or helping to renegotiate deals with existing ones, Make It Cheaper will typically save over 30% of costs (as well as a considerable amount of time) that its customers can then spend elsewhere. The company has appeared in the Fast Track 100 each year since 2011 and, in 2013, won the titles of 'SME Consumer Champion' & 'SME Most Trusted' at the Energy Live Consultancy Awards. Its 2014 Net Promoter Score, based on 1,113 customer satisfaction questionnaires completed year-to-date, is 65.
Further information: Nick Heath 0207 654 0730 / 07720 297972 / firstname.lastname@example.org