Wednesday 20th June 2007
Research suggests a potential savings account benefit may be achieved by switching to an online tariff for utility bills.
Figures from uSwitch.com show that seven out of eight consumers could save money by switching to a cheaper tariff.
And the advisory service claims that for many Britons, obtaining cover online could achieve this.
For example, British Gas customers are told they could save a combined total of £430 million by going online.
Geoff Slaughter, energy expert at uSwitch.com, explains: "By deliberately offering their cheapest prices on those tariffs with low take-up they can look competitive, attract new customers but keep their existing customers merrily paying over the odds."
He urges consumers to beat suppliers "at their own game" by comparing their existing bills with the rates quoted by online services.
"Im sure that there is an online deal to suit most people," he adds.
Mr Slaughter indicates that differences in the way suppliers define an online service mean that many of the common objections put forward by customers may be overcome.
He asserts that for those reluctant to give up receiving a printed copy of their bill, online tariffs may still be suitable.
While some companies do provide bills online, many only require online registration and still administrate accounts in the same way - complete with hardcopy bills - he advises.
The findings could be of particular interest for consumers facing unexpected increases in their bills.
According to Abbey, some £48.7 billion was spent on unpredicted bill increases over the past 12 months, with many Britons forced to turn to credit cards and overdrafts to meet charges.
Up to 79 per cent of people reported having witnessed an unplanned expense with an average cost of £1,375.
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