comparethemarket.com Expecting More Consumers to Visit Price Comparison Sites as New Energy Tariff Rules Fall Short

LONDON, May 4, 2012 /PRNewswire/ --

Though the Government has announced new measures requiring energy suppliers to keep their customers informed of their best tariffs, householders are still at risk of paying more. Proactive customers are heading to price comparison websites such as comparethemarket.com to find the best deals as the new rules fall short of requiring energy companies to let people know about cheaper deals with their rivals.

Earlier this month, Deputy Prime Minister Nick Clegg announced a new deal which will mean that British Gas, E.ON, Npower, Scottish and Southern Energy, EDF and Scottish Power will contact their customers once a year to tell them of the best tariff available to them, and how they can get it. Mr Clegg said that this was an "important step" as companies were previously under no obligation to advise customers they were on the wrong tariff, resulting in many people paying up to £100 more than they needed.^[1]

However, while the move will mean that customers are kept informed of cheaper deals from their current provider, there is no requirement on companies to provide information on competitors. Conscious that they could potentially save more by switching providers, many householders are still visiting price comparison websites to find the best offer on their energy.

Andrew Stocks, Director at comparethemarket.com, said: "This latest plan will help customers take a better look at what's on offer from their current supplier and possibly move to a better tariff. However, people need to be aware that they could possibly save more by switching suppliers altogether. comparethemarket.com offers a quick and easy way to compare energy providers from across the market, helping people to make an informed decision about their energy bills."

Specialising in more than just energy prices, comparethemarket.com provides customers with an easy way to find the right deal on a wide range of insurance and financial products including home insurance, van insurance, bike insurance, life insurance, pet insurance and credit cards.  It also offers comparisons for a range of household utilities including electricity, gas, phone, broadband and digital TV.

^[1] http://www.bbc.co.uk/news/uk-politics-17668573  

About comparethemarket.com

• comparethemarket.com  was launched in 2006 and has grown rapidly over the past six years to become one of the UK's leading price comparison websites.
• comparethemarket.com provides customers with an easy way to make the right choice for them on a wide range of products including motor, home, life, travel and pet insurance as well as utilities and money products such as, credit cards and loans.
• comparethemarket.com actively selects its brand partners, working with the best and most trusted organisations to ensure quality service to consumers.

comparethemarket.com is a trading name of BISL Limited.  BISL Limited is authorised and regulated by the Financial Services Authority. Registered Address: Pegasus House, Bakewell Road, Orton Southgate, Peterborough, PE2 6YS. Registered in England number 3231094.

SOURCE comparethemarket.com