In short, yes but it is a difficult situation that faces us, with the price wars going on, who will win? As a nation, many of us stay loyal to our Energy suppliers without a good explanation. We comment on how much last quarter's bill was or how much the direct debits has just gone up yet our attitudes towards switching plays right into the hands of those suppliers who simply aren't giving us the best deals. Are we all guilty of switching off as soon as we hear about a cheaper supplier or are we just that lazy? I hear some people talk of their fear of switching suppliers in case the prices are hiked up on them or their previous supplier becomes cheaper. We think nothing about driving an extra few miles to find a cheaper service station to fuel our cars, which probably saves us nothing as we've just wasted more fuel getting there and possible caused minor damage to the engine by sending all the rubbish from the bottom of the tank through the engine, would we make the same efforts to save money on our Gas and Electrity? Don't be ridiculous! My take on all of this is simple, due to our ignorance and laziness, the big suppliers are laughing all the way to the bank. Millions of us have switched some form of monthly outgoing beit Mortgages, Mobile Phone bills, Home and Car Insurance - even Banks. Surely we can't be that lazy or ignorant - can we? We all strive to get the best deals when we buy a car or even when we go to the supermarket, so why do we insist on paying too much for our Energy. We can't blame the suppliers, there are some great deals out there to be had, even with great customer service figures too - but as the Great British public carry on moaning about the cost of Gas and Electricity, we still refrain from switching. After all - what could we moan about then! What seems to be stuck in our minds is that when the market was deregulated, armies of door knockers were mobilized and sent out in their hundreds to catch us just as we sat down for our dinner. By switching our suppliers with them we might have a brand new Bentley on our drives go off for a 3 month cruise around the Carribean! Ok maybe not but you get the idea. People were writing into TV's Watchdog in their masses complaining about how they haven't saved any money or they haven't received a statement for 9 months and just got hit with a huge bill. Nowadays, there are very tight regulations that energy companies must adhere to in order to satisfy it's customers. This gave us all a perfect excuse to do nothing, We could be blissfully happy knowing that we could do nothing and not feel guilty about it. Of course now we haven't got that excuse, Energywatch keeps a close eye on things for our piece of mind and still millions UK households waste £millions every year by not switching to cheaper suppliers. One comparsion I can note from recent times was a gentleman who had never switched before, he saved £330 a year. If that was our insurance quote or mobile phone bill, we'd be patting ourselves on the back for a job well done. According to price comparison sites such as Money Angels, many of these cheaper suppliers actually offer a better level of customer service too. So then, can we win the price war? Yes, but we have to stop complaining and do something about it. There are great deals out there and we only have to give 28 days notice to any particular supplier. This means we can switch as many times as we like. Those switched on people out there probably switch their suppliers twice a year to get the best deal. If we think we are wise consumers then we must start to act accordingly.
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In short, yes but it is a difficult situation that faces us, with the price wars going on, who will win?
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