Survey Finds Consumers Failing to Switch to Better Gas and Electric Deals

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4th September 2013 12:12 - Utilities

The National Consumer Agency survey found that, among respondents, almost half (48%) of Irish consumers have never bothered comparing prices to see if they can get utilities such as gas and electricity for less by switching service providers.

Furthermore, more than a third (37%) of consumers said they “tend to stick to the same companies” while only a quarter (27%) said they “change companies often and avail of better deals whenever they can”.

The survey, which looked into the switching behaviour of consumers found there was most movement in the grocery sector, with a quarter (26%) saying they have altered their shopping habits over the past twelve months. It also found that just over one fifth (23%) had changed their car insurance provider to save money, yet less than a fifth (16%) reported they had changed to a different gas and electricity company.

The National Consumer Agency’s Chief Executive, Karen O’Leary said:

“More consumers are aware that shopping around and switching providers can save them money. However, there is still a large level of inertia among consumers with large numbers sticking with the same provider.”

She continued to say that many people still view switching as a hassle and are not making fully informed decisions by checking competitors’ prices. Yet “In recent years it [switching]has become a much simpler process...”

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