Switching power providers ‘too hard’
POWER consumers are worried about the high cost of electricity, but only one in five is prepared to do something about it.
A survey conducted for accounting firm Ernst & Young has found that while electricity is one of the most significant ongoing expenses after rent and mortgage repayments, only 20 per cent of customers are in the market for a new electricity provider.
An overwhelming 92 per cent of customers say electricity bills account for a moderate to high amount of their total household running costs.
“It’s only a matter of time before we see a consumer awakening of sorts and a shift in the power balance in favour of the customer,” says Ernst & Young customer leader John Rolland.
The customer experience survey found that more than a third of people have never switched providers, with many saying the experience is too hard.
Three-quarters of customers have heard of “smart meter” technology but only 14 per cent understand how it works.
The survey found that the main reasons for people changing electricity providers are being offered a better deal by a door-to-door salesperson, moving house or receiving a hefty bill.