A price comparison website has advised consumers to ensure they get the best deal on their energy tariffs by comparing and switching suppliers as necessary.
Moneysupermarket.com highlighted recent research from Consumer Focus suggesting that some energy suppliers are significantly overcharging customers after it compared tariffs with wholesale prices.
The study indicated that gas prices should be at least 7.4% cheaper and electricity bills at least 3.1% lower than they are at present as a result of falling wholesale costs.
According to moneysupermarket.com, it is “crucial” that consumers take immediate action to slash the costs of their bills.
“There are definitely savings to be made by taking ownership of your bills and staying savvy to the best deals on the market,” it said.
Home owners could also cut the cost of their energy bills by making improvements to their properties – according to the Energy Saving Trust, installing double glazing can save £135 a year on heating costs.