Direct debit cheapest for energy
Householders have been advised that paying for energy bills by direct debit is the cheapest option.
Price comparison site uSwitch.com issued the advice after it discovered a 7.3% drop in the number of people choosing to pay by direct debit.
The number of customers signing up for fixed monthly direct debit payments when changing their supplier at uSwitch.com has dropped to 85.3%, down from 92% a year ago.
The average yearly energy bill for households paying by cash or cheque is £1,239 per year, uSwitch.com said.
By contrast, households making direct debit payments pay an average of just £1,141 per year.
“Paying by direct debit opens the path to the cheapest energy prices in the market,” said Ann Robinson, uSwitch.com director of consumer policy.
“Coming off fixed monthly direct debit and paying by cash, cheque or variable direct debit will cost you money.”
The price comparison site is urging Ofgem to step in and restore consumer confidence in direct debit payments.