Proposals to simplify energy pricing are still too complex, a consumer group has warned.
A Which? survey found more than seven out of 10 people failed to find the cheapest deal using Ofgem’s tariff comparison rate (TCR).
The watchdog called for energy costs to be displayed in the same way as petrol tariffs, using single unit prices.
Energy regulator Ofgem rejected the findings, saying the research was “misleading”.
The TCR aims to allow consumers to easily compare the price of different tariffs across the market, giving them an indication of the cheapest deal based on an assumption of medium usage of both gas and electricity.
‘Think again’But the Which? survey – which questioned 2,008 adults from 3-19 May – found that two thirds of people (65%) preferred the petrol forecourt-style single unit pricing system, compared with 10% who preferred the TCR.
Consumers also scored the single unit format highly for ease of understanding (62%), speed of use (63%), and helpfulness (53%), Which? said.
Just 4% of those who viewed the TCR format told Which? that they would check their usage to ensure they had made the right choice, while 57% were not able to find their energy bill at all.
More than half of those surveyed (55%) had never compared their energy tariff with others on the market to check if it was worth switching, with just a quarter (24%) switching suppliers in the last two years.
Which? executive director Richard Lloyd said the complexity of the system was a “major problem”.
via BBC News – Cheap energy deals still too hard to find, Which? survey warns.
Cheap energy deals still too hard to find, Which? survey warns
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