There has never been a better time to leave the much hated “Big Six” energy suppliers. While oil prices and stock markets plummet around the world, energy prices in the UK continue to defy gravity. While the shareholders at British Gas, EDF, Eon, nPower, ScottishPower and SSE will no doubt be delighted at the obscene profits these companies make, UK consumers continue to pay over the odds compared to other western countries. To rub it in, it was recently announced that the top executives at the six energy giants earned £12m between them in 2015.
While profits grow, customer satisfaction levels are at an all time low – not just because of high prices but because of poor customer service. Over the years the energy companies have maintained that their pricing reflects wholesale energy prices. Well, wholesale prices have fallen by 50% over the past 2 years while the average household energy bill has fallen by only 14%. The Big Six should be cutting prices by at least 10% this year but we know they won’t – so what are our options?
The only way to make the Big Six more competitive is if a greater % of the population consider switching to an alternative supplier – not just a different player in the Big Six oligopoly (they are generally quite happy to pass customers around between themselves) but to one of 10 or so small, independent providers. So if you paying for your energy on a “standard tarif” or you are coming out of a fixed price deal we urge you to switch to an alternative.
Over the next few pages we’ll introduce you to these alternative energy suppliers and the best fixed deals available from them. We’ve ranked them from the lowest savings available to the highest based on our average calculations.