In the last 12 months, tenants have overpaid energy bills by a staggering £1.6 billion. Wrongly, almost half (49 per cent) of renters believe they cannot switch supplier, citing reasons that they don't own the property or they think the landlord has the final say, leaving tens of millions sticking with overly-expensive energy tariffs, says energyhelpline which carried out the research.
49% of renters believe they can't switch supplier
An overwhelming number of renters are just accepting the energy tariff that comes with their property and not questioned their sky-high bills. Over a third (39 per cent) of renters have never switched their energy supplier – a figure that’s much higher (by 17 per cent) than that of homeowners. Others just simply haven’t given it any thought with almost a quarter (23 per cent) of tenants saying it has never occurred to them to switch, whilst 29 per cent admitted they couldn’t even name their energy supplier.
Despite notoriously tight budgets, student renters are one of the least likely demographics to cash in on cheaper deals with 82 per cent of student renters believing their landlord has the right to stop them from switching to a cheaper supplier.
By remaining on expensive standard tariffs, typical bills add up to £1,098 a year, costing renters £304 more than if they were on the cheapest available tariff.
"There's nothing stopping renters from finding a better deal so they needn’t get caught in a trap of overpaying for their energy," says Mark Todd of energyhelpline.com. "Our advice is grab a bill, shop around and switch to a better deal. An average of £304 in savings are up for grabs using a comparison service."