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Two thirds of us have ‘no idea about energy costs’

Do you know how much you're paying for energy?

Man looking at energy bills

Most energy consumers are completely clueless when it comes to knowing how much they’re paying for electricity, according to new research.

The survey by energy monitor manufacturer Current Cost found that two thirds of people had no idea which electricity tariff they’re on.

Current Cost’s research backs up a Which? investigation into energy tariffs published last week, which found that an overwhelming number of tariffs, coupled with energy suppliers’ policies of not keeping their customers informed about cheaper deals, meant many households could be paying more than they need to for energy. 

Even if you switched to a cheaper tariff a couple of years ago, there could be hundreds of pounds difference between that tariff and the cheapest version available now.

Energy suppliers aren’t helping

Which? energy expert James Tallack says: ‘We keep being told how great our competitive energy market is and how much choice we have, but the reality is that unless consumers are told by suppliers that cheaper deals are available many will miss out on big savings.’

An energy monitor can be a useful way of keeping track of electricity use in your home. It tells you in pounds and pence, and in real time, how much energy you are using. If you’re interested in getting an energy monitor, Which? has reviewed seven leading energy monitors, including one from Current Cost. 

If you’re replacing any of your appliances, make sure you check out our review of Best Buy energy-saving appliances to see how much they could save you on your electricity bill.

Lower your gas and electricity bills

You can compare energy prices and switch to a new gas and electricity supplier on Which? Switch. People who switched with us between 1 October and 31 December 2013 are predicted to save an average of £234 a year on their bills.

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