Our latest research suggests that 7 million over 65s have not switched their gas and electricity provider or changed their tariff in the last 5 years. That’s despite the fact that the average savings (from switching via comparethemarket.com) for the age group comes in at a whopping £434.71 a year, which is a collective £3billion. And according to our most recent Energy Snapshot, over 65s accounted for just over 10% of overall energy switches in January 2016.
This comes just a month after we published our survey into the energy concerns of the over 65s. Our research found that nearly half (46%) of the age group were concerned that the cold weather could lead to higher energy bills. And of the 2,000 people surveyed, 61% admitted that they were likely to cut down on their energy usage to try and save money on their energy bills.
So with growing concerns over the cost of energy, it is a surprise that so few over 65s are taking advantage of the tariffs and savings on offer.
James Padmore, our Head of Energy, says, “Nobody should have to compromise their health and wellbeing because of high energy bills, least of all the elderly who represent some of the most vulnerable people in our society.”
Back in April 2015, we conducted some research to look into some of the reasons why you were reluctant to switch energy providers. According to this research, one of the major causes for confusion was the complexity of your gas and electricity bills. We know that it can be pretty difficult to compare energy tariffs as there is so much information contained within your bill, and this may be one of the main reasons why over 65s aren’t switching and saving.
To try and overcome this, we introduced our new Snapt app. By simply scanning the QR code on your bill, you can compare tariffs using your up to date information. It only takes a few minutes and can help you find a fairer tariff that meets your needs. You can also revisit your quote at any time online and compare gas and electricity quotes.
But we acknowledge that some of our over 65s might not be quite so confident when it comes to technology, but fear not, that shouldn’t stop you from switching, and saving. For those who would like to talk about changing suppliers, you can call our dedicated switching support team on 0800 093 6831.