Are you satisfied with your energy provider?
The number of complaints received by energy providers is on the rise. But how important is customer satisfaction when it comes to your decision to switch?
While the cost of your energy tariff is often the most important factor influencing your decision to switch. When comparing energy suppliers, it’s also a good idea to look at how well the supplier with the best deal looks after its current customers.
Newly published Ofgem data shows a decrease in customer satisfaction over the last 3 months in the UK. With medium and small suppliers seeing the biggest drop in customer satisfaction.
The same report into customer satisfaction has also provided insight into customer complaints. While in the second financial quarter of 2020 complaints fell by almost 30%, large and medium sized energy providers saw an increase in the number of customer complaints in Q3.
It’s also interesting to see that small sized energy suppliers had the lowest number of complaints per 100,000 customers at just 827. Compared with nearly 1,500 complaints per 100,000 for large energy suppliers.
With 11 million households in the UK estimated to be their suppliers standard variable rate tariff, there can be big savings to be made when comparing gas and electricity.
Here’s our 6 top tips to help you compare energy suppliers:
- Use a comparison service that includes the big six suppliers. In case you don’t know, the big six are E.ON, Scottish Power, SSE, British Gas, EDF and npower. Comparing gas and electricity with Monva allows you to do this
- Use accurate usage data to produce your quote to get a real idea of the savings you can make by switching energy supplier
- Look at customer satisfaction ratings for each energy company
- Consider how long each energy supplier has been in business. We have seen Tonik, Effortless Energy, GnERGY, go bust this year and 24 suppliers went bust in 2019.
- Check for any exit fees
- Keep an eye out for your end of tariff notification: Energy suppliers have a legal obligation to notify account holders when their tariff is approaching its end. You’ll receive this 42-to-49 days before your tariff ends and switching within this window also means you don't pay an exit fee
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