Shropshire Star

Shropshire Star comment: It’s our job to keep tab on energy

The energy market has changed. Where once we used to have one supplier who met all our needs for gas and another that provided electricity, we now have a competitive marketplace in which numerous companies trade.

Published

Some offer deals. Others offer contracts that are little short of a rip-off. And it is up to us, as the consumer, to figure out which is which and make our selections accordingly.

It is a truism that the energy companies also rely on our inertia, on our laziness, in not rooting around for the best deal.

And so while some might be expected to reward customers for their loyalty by offering better deals, they do the opposite and raise prices to profit.

In defence of energy suppliers, we must recognise them as commercial entities with shareholders to please. That is why they raise prices quickly when the wholesale price of gas goes up and drop it very reluctantly when the wholesale price drops. That is why they announce price hikes while we are in the middle of a long hot summer and are more interested in ice cream than central heating.

They bury bad news like seasoned politicians. And that is also why they are quick to take loyal customers for granted – and to take their money.

The only way to keep our bills down is to keep suppliers on their toes. That means looking for the best deal and changing supplier when we need to. It might seem a faff as we check our readings, convert to smart meters, visit comparison websites and the like. But we should think of it as being paid possibly hundreds of pounds for a few minutes on the computer or phone.

Switching has, in fact, become much easier. These days, there are companies who will do that work for us. All we have to do is register at no cost with a company that reviews our accounts annually and they will take all of the effort out of it. In essence, we gain considerably by filling in a form that takes minutes then allowing an energy provider to hunt out a new deal once a year.

Certainly, we all ought to think smart when it comes to energy.

Unless the public act, we will continue to be a cash cow for the big energy suppliers as they overcharge for gas and electricity.