UK households are overpaying £4bn on energy bills | AdminBox

UK households are overpaying £4bn on energy bills

UK households are overpaying £4bn on energy bills

Household admin is a pain. According to new research by energy supplier, Bulb, some UK households are paying far too much for their energy bills. Some 12 million households are on a standard variable tariff with the big six energy suppliers and overpay by an average £350 a year. Since there are 27 million households in the UK, this is just under half of all UK households. 

So what does this mean? 12 million households are either too busy to bother finding a tariff, or they’re not that bothered about losing £350 a year. Maybe it is due to the complicated nature of bills or simply customer apathy.

For those households that are on a tight budget, there is simply no excuse to be on a variable tariff. 

Worse still, the big six energy suppliers have all increased their energy prices, laying the blame on increases in wholesale energy costs. That said, data published earlier this year showed that more people are switching away from the big six suppliers.

Now, more than 20% of customers are with smaller energy suppliers. 


[AdminBox comment:] The above is an example of the problems faced by UK households. On the one hand, they are facing low wage growth and increasing inflation and on the other, household suppliers are relying on customer apathy and inertia to move them to variable tariffs automatically. AdminBox is designed to stop this happening. AdminBox will alert you a number of weeks before your agreements are due for renewal, so you can quickly and efficiently switch your supplier or remain with your existing one on a better rate. AdminBox doesn't just cover energy, we cover car insurance, MOT, home and contents insurance, credit cards, broadband and mobile phones, as well as several other important household categories. Start using AdminBox and take control. 

  • 07 Aug 2018
  • By: Paul Chapman