By Marcus Leach
Talk of a new energy price war started this morning with the announcement from one of the big six energy suppliers that they would cut their gas prices.
EDF Energy said gas bills will be cut by 5% after a decline in wholesale prices. It is thought the other energy firms will follow suit with similar price cuts.
The news comes on the same day as a report from the consumer group Which? that placed EDF among the worst for customer satisfaction. The report stated that the six major energy companies received over four million complaints in 2011, with billing being a common problem for customers. However, most don’t make a claim for compensation and as a result, £4 million of compensation remains unclaimed.
Danny Jatania, CEO of Pockit said that they welcome the cuts in energy bills, but there are still more ways for customers to enhance savings.
“Whether the energy companies increase or decrease their prices, there will always be a large contingent of people who are paying over the odds for their gas and electricity and savings can be made by shopping around," he said.
"Customers shouldn’t simply be searching in terms of price comparison, they should also pay closer attention to other benefits they can receive from the energy firms that will help them save money. For example, many cashback rewards can be generous and are definitely worthwhile. Some companies are also fitting smart meters that will help customers to save money by providing accurate bills.
“Quite often, customers begin to make savings when they are aware of their bills and the current prices they are being charged but the report from Which? shows that too many costumers aren’t taking this seriously enough. Once all the energy firms convert to simpler pricing structures, it will be much easier for customers to assess how much they are paying and how their payments can be reduced.”
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