- comparethemarket.com introduces a major update to its Snapt energy app to now include a QR code reader, enabling customers to save up to £270 in 10 seconds*.
- Supports Government introduction of compulsory QR codes for all energy bills, introduced on 1 July
- Households can compare best tariffs in under ten seconds, simply by scanning QR code using Snapt
comparethemarket.com today launches a major update to its energy comparison app – Snapt – enabling people to scan the Quick Response (QR) code on their energy bills simply by pointing their smartphone's camera at the code.
According to Ofgem, the majority of energy suppliers are now legally required to include a QR code, containing a customers' tariff and consumption data, on all bills from 1 July 2015. The requirement has the potential to revolutionise the energy market, by making it clearer and easier to compare tariffs online and switch provider.
Snapt scans the code and uploads this data directly from people's bills. This information is automatically fed into comparethemarket.com's comparison engine.
At the press of a button, consumers can compare the best energy tariffs on the market – the entire process takes roughly ten seconds. Households stand to save, on average, £273.56 on their annual energy bill by switching*.
Commenting on the launch of Snapt’s QR code reader, James Padmore, Head of Energy at comparethemarket.com said: "The energy market is broken. Consumers struggle to make sense of energy bills and too many remain on uncompetitive tariffs because they are unsure of how to compare deals based on their current usage and expenditure. The introduction of QR codes, led by DECC and Ofgem, is a positive move and significant step in the right direction to help fix the market, and our updated app will help to maximise its potential. It is vitally important that, beyond simply including them on bills, energy companies clearly communicate the purpose of the codes. Using QR codes effectively will give more people the confidence to compare tariffs and switch to the best one, possibly saving themselves hundreds of pounds.
This is a major step-change by the energy market and we are proud to be one of the first providers to offer QR code scanning of energy bills. We have harnessed our technological innovation to produce a first class comparison service that is simple, quick and fun to use."
Notes to Editors
* Based on customers who used comparethemarket.com to switch their gas and electricity in April 2015.
Snapt is the fastest and most simple way to save money on your energy bills. There is no form filling or questionnaire to complete. Just use your Smart Phone’s camera to take a picture of your Quick Response (WR) barcode. This will show your tariff and consumption data. You can then compare energy tariffs through comparethemarket.com through the press of a button.
comparethemarket.com was launched in 2006 and has grown rapidly over the past nine years to become one of the UK’s leading price comparison websites.
comparethemarket.com provides customers with an easy way to make the right choice for them on a wide range of products including motor, home, life, travel and pet insurance as well as utilities and money products such as, credit cards and loans.
comparethemarket.com actively selects its brand partners, working with the best and most trusted organisations to ensure quality service to consumers.
comparethemarket.com is a trading name of BISL Limited. BISL Limited is authorised and regulated by the Financial Conduct Authority. Registered Address: Pegasus House, Bakewell Road, Orton Southgate, Peterborough, PE2 6YS. Registered in England number 3231094.