We are now showing the latest reports from Ofgem. Ofgem, (Office for Gas and Electricity Markets) are the governing body for the energy industry!.
This is their latest report:
More consumers than ever are using comparison sites to shop around for their gas and electricity. Recent research from Ofgem shows that 31% of switchers used a comparison service to make the change last time, up from 26% in 2013. This now beats phoning suppliers directly as the main method customers used when they made their last switch.
Recognising the increasing use of comparison services, Ofgem is proposing some changes to the Confidence Code scheme. Plans include updating the rules so that more comparison sites can apply, and bolstering the consumer protection measures that the Code requires of its members. Those who make the grade are allowed to display the Confidence Code badge, which tells consumers that they can trust the site’s advice.
Eleven comparison sites are now covered by the Code, including some big household names. The most recent member is Runpath Digital, which powers the personal finance website lovemoney.com alongside other price comparison services. All the accredited sites are listed on the Energy Advisory Service UK * alongside free independent advice on how to compare energy tariffs and get a better deal on gas and electricity bills.
Rachel Fletcher, Ofgem senior partner and Be An Energy Shopper spokesperson, said: “Price comparison sites are a great tool to use when energy shopping and it’s good to see more consumers using them. However, consumers quite rightly want to know that recommendations are trustworthy and the Confidence Code badge is a quick and easy way to check that the information is independent, accurate and reliable.”
“There’s a full list of accredited comparison sites on the Be An Energy Shopper website, which also gives clear guidance on how to start shopping around for gas and electricity. There are potential savings of £200 to be made, just by switching to a better deal, so it’s well worth taking a look.”
Top ways that savvy shoppers switch:
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The Confidence Code is a voluntary code of practice for independent energy price comparison sites. Ofgem took over responsibility for managing it from Consumer Focus in March 2013 and committed to review it in 2014.
The Confidence Code insists that its members follow key principles for how they must operate their service. So using a site with the Confidence Code logo means that the process of comparing energy tariffs should be easier, more reliable and reassuring for consumers.
For more information on the requirements the accredited sites must follow see the Confidence Code – Code of Practice.
There are two key changes:
Ofgem’s 2014 customer engagement tracking survey was conducted by Ipsos MORI in the period 7-17 March 2014. It was a face-to-face quota survey, weighted to be representative of all adults in Great Britain aged 15+. Most figures are based on interviews with 1,227 gas consumers and 1,383 electricity consumers.
The Be An Energy Shopper campaign was launched by Ofgem in response to consumer demand for impartial advice on how to compare tariffs in the gas and electricity markets. An easy guide has been set up to show how recent changes to the energy market can help consumers to compare tariffs and get a better deal on their gas and electricity bills.
The website includes:
Ofgem is the GB energy regulator. Everything we do is aimed at making a positive difference for consumers.
* This link has been amended to show our own links to the accredited comparison sites