Today the Deputy Prime Minister Nick Clegg is announcing a new deal for customers agreed between the Coalition Government and all the major energy suppliers, that aims to stop people paying more on their energy deals than they need to, by making it clearer which tariff is best for them and quicker to switch.
At a speech at ‘Canary Wharf’s greenest building’, the KPMG headquarters, Deputy Prime Minister Nick Clegg is expected to say:
"We need to get bills as low as possible. I know that many families are struggling with rising energy bills. We can't control volatile world energy prices. But we can still help people get their bills down.
“So I can announce today that we have secured a landmark deal with the six big energy companies who cover 99 per cent of customers, to give customers a guaranteed offer of the best tariff for them.
“Right now, seven out of 10 customers are on the wrong tariff for their needs, so are paying too much. Yet people rarely switch, despite the fact some families could save up to £100 a year. There are currently over 120 different tariffs, making it very difficult to know where to start.
“That is going to change. As of this Autumn, your supplier will have to contact you with the best tariff for your needs. And if you call them, they’ll have to offer you the best deal too.
“We’re also working with energy companies to put special barcodes on energy bills. You’ll be able to scan them with your smartphone to get quotes and switch tariff or supplier in a matter of minutes.
“Plus we’re working with consumer groups to make it easier for people to club together and switch supplier. Consumers will be able to use their collective purchasing power to bring down bills.
“We want to see consumers saving money and engage with the energy they use. Precisely the kind of thrift that is good for pockets as well as the planet.”
Full details of the announcement are here.