Household fuel bills could be reduced by £1 billion a year through switching fuel suppliers and improving energy efficiency, Trade and Industry Secretary Patricia Hewitt will tell an energy consumer summit in London today.
The summit sees the launch of the 'Energy Smart' awareness-raising campaign run by consumer watchdog Energywatch, industry regulator Ofgem and supported by the DTI. Representatives of vulnerable groups are also at the summit to discuss how Energy Smart can reach those in greatest need of help in reducing fuel bills.
Rising wholesale oil prices have pushed up residential bills this year. The average gas bill has increased by 18% in the year, and the cost of electricity has risen by 14% on average. Consumer groups are concerned that the increases over the last year will cause problems for vulnerable people this winter.
Ministers outline specific annual savings for households with gas and electricity:
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First time switchers could save up to £100 a year on fuel bills.
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Changing payment method from standard credit (ie cheque/cash) to direct debit could save around another £20 a year. Pre-payment meter users stand to save even more.
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Energy efficiency measures. Cavity wall insulation alone could save a further £35 a year.
Ms Hewitt said: "We know that for many families fuel bills are a significant part of their weekly outgoings, and we need to do more to help the most vulnerable consumers benefit from big savings that are out there."
"Half of all households have never switched energy supplier, despite the fact that there are big savings still to be made. Our message today is simple - why pay more for your gas and electricity than you need to?"
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