19 June 2018, 12:08

GoCompare comments on E.ON’s August 16 price rise announcement

Georgie Frost, consumer advocate at GoCompare Energy, comments on today’s energy price increase announcement from E.ON:

“E.ON energy customers on the supplier’s standard variable tariff (SVT) are in for an inflation-busting hike to their energy bills, just in time for the autumn, when lighting and heating use starts to increase. As if it wasn’t bad enough that they already pay more for their gas and electricity than anyone except those on a pre-pay or safe-guard tariff, around 1.4 million E.ON customers will see their annual energy bills increase by an average of 4.8%, or £55, for customers on the dual fuel tariff; 6.2%, or £36 for electricity-only customers; and 3.3%, or £19, for gas-only customers.

“Although E.ON claim that the number of customers on their standard variable tariffs has fallen by 21% over the last 18 months, that still means around 1.4 million customers could be forking out a collective £78m* a year extra for their energy, unless they switch.

“More people than ever before have been switching energy suppliers to find better deals, but as figures from E.ON show, there are still far too many people sticking with expensive SVTs. News of a price hike should prompt E.ON customers to get online, compare prices and tariff options, and switch to a better deal. In fact, anyone on a standard variable tariff with any energy provider should do this today.

“Dual fuel customers who shop-around and switch energy provider with GoCompare typically save £210 a year on their energy bills.**”

For more information on switching energy provider visit: https://www.gocompare.com/gas-and-electricity/


For further information please contact:

Anders Nilsson or Martyn John at GoCompare on 01633 654 054 / 01633 654 725

Gordon, Jason or Liz at MAW Communications on 01603 505 845

Keep up-to-date with GoCompare on Twitter: @GoCompare

Notes to editors:

*According to E.ON they have contacted around 1.8m SVT customers advising them that cheaper tariffs may be available and that in the last 18 months the number of customers on SVTs has fallen by 21%. 1.8m – 21% = 1.422m. 1.422m customers x average price increase of £55 = £78,210,000.

**Based on customers who provided their energy usage and received a price for switching energy supplier for both gas and electricity (dual fuel) using GoCompare during 1 October to 31 December 2017. At least 51% of customers who received a price for switching energy supplier for both gas and electricity with GoCompare saved £210 or more.

About GoCompare

GoCompare is a comparison website that enables people to compare the costs and features of a wide variety of insurance policies, financial products and energy tariffs.

GoCompare does not charge people to use its services, and it does not accept advertising or sponsored listings, so all product comparisons are unbiased. GoCompare makes its money through fees paid by the providers of products that appear on its various comparison services when a customer buys through the site.

GoCompare does not sell its customers’ data.

When it launched in 2006, it was the first comparison site to focus on displaying policy details rather than just listing prices, with the aim of helping people to make better-informed decisions when buying their insurance. GoCompare has remained dedicated to helping people choose the most appropriate products rather than just the cheapest, and has teamed up with Defaqto, the independent financial researcher, to integrate additional policy information into a number of its insurance comparison services. This allows people to compare up to an extra 30 features of cover.

GoCompare is the only comparison website to be invited to join the British Insurance Brokers’ Association (BIBA) and is authorised and regulated by the Financial Conduct Authority (FCA).

For more information visit www.gocompare.com and www.gocomparegroup.com

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