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Consumers can’t wait for ‘big five’ to fix energy market

08 November 2017

GoCompare comments on the plans for SSE and npower to merge

Ben Wilson from GoCompare Energy, comments: “At face value it is hard to imagine how a 'big five' will serve consumers better than a big six.  And in truth, the real competition in future is likely to continue to come from the newer providers and those that develop into genuine challenger brands. 

“But the domestic energy market of the future will look very different to where we are now.  The established providers are going to need to invest in new technologies and be able to develop different types of relationships with their customers. 

“The traditional model of big energy providers funded by 'cash cow' standard variable rates, that give millions of households a raw deal, is broken.  This is the first sign that the big providers are changing. Whether it is change for the better, remains to be seen.

“Rather than wait and see what the soon-to-be ‘big five’ do, act now to take advantage of the competition that already exists in the market. With savings of around £300 to be made, the best advice for people is to take matters into their own hands and switch.”

For more information on understanding your energy bills or switching your energy supplier visit: http://www.gocompare.com/gas-and-electricity/beginners-guide/

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