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Energy switching 'could lead to big savings'

Published: 30 January 2008 in Unsecured Loans

More consumers need to be aware of the advantages of changing utility provider, an expert has claimed.

Tim Wolfenden, head of home services for uSwitch.com, said that British people are becoming increasingly "savvy" about switching other financial products but are still reluctant to investigate changing their energy provider.

He claimed that many consumers mistakenly believe that switching utilities is a "hassle", even though it could make them substantially better off.

"There is definitely still a long way to go," Mr Wolfenden said.

He added: "There are different levels of willingness for consumers to compare and switch."

According to the financial comparison website, approximately 45 per cent of UK households have never considered switching their gas and electricity supplier. Another way of making energy costs more manageable could be to take out a personal loan.

Research from uSwitch.com recently claimed that 4.8 million Britons spent more than they earned last year.
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