Brits ‘resist changing utility provider’

Millions of consumers are wasting money by not choosing to switch to more competitive utility suppliers, it has been suggested.

According to a study by Which?, just under half of all households have never changed energy supplier.

The study indicated that those who change provider for the first time could save up to 25 per cent on the cost of their energy bills, which could help those struggling with debt management or personal loan repayments.

Chris Gardner from Which? said: "By switching to better deals and capitalising on potential savings of as much as £500, consumers will support the evolution of a buyer’s market."

The consumer watchdog also claimed that households which changed energy providers over the course of last year saved up to £245.

Those in the north-west are most likely to change supplier, with about one in three still with the same provider they had last year.

However, only 20 per cent of households in northern Scotland have switched providers.

Earlier this month, Karen Darby from SimplySwitch.com claimed that by changing to a standard credit meter some of the most financially vulnerable people in Britain may be able to manage their debts and make personal loan repayments with greater ease.

Interfinancial providing you with breaking finance news.