The UK’s big six energy firms are overcharging households by hundreds of pounds a year, it has been claimed.
Statistics, complied by green energy supplier Bulb Energy, indicates an average over payment of £853 per household.
The findings conclude that over £7billion has been overcharged.
Each of the big six firms are being accused of making revenue from short-lived ‘fixed tariffs’ that last only a few years before placing customers on standard variable rates, which can be up to 30% higher.
The data claims that much of this over-charging is down to 45% of customers who never switch from their original supplier.
Hayden Wood, Bulb co-founder, said: “These latest numbers show that so-called standard tariffs no longer have the customers’ best interests at heart.
“The Big Six need to show that they’re putting customers first, instead of profits.
“Loyalty towards a brand is often rewarded, yet households who’ve put their trust for years in a single energy company are being forced to subsidise others who switch every 12 months.”
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