The majority of people are prepared to switch energy supplier as a form of debt management, a new study has suggested.
Research from moneysupermarket.com has found that 80 per cent of those questioned would switch tariffs if it meant a yearly saving of £200.
However, the fact remains that around half of the population have never actually changed their supplier, the report noted.
Utilities manager Scott Byrom remarked: “The hammer blow of two rounds of price hikes so far in 2008 means people are in more need than ever to tighten their purse strings.”
He stated that electricity has risen by 28 per cent and gas 52 per cent so far this year.
People who live in East Anglia were found to be the least likely to switch, with an “astonishing” 16 per cent claiming they would never change companies.
A recent study from Abbey found that meeting rising fuel costs and paying the mortgage had become the priorities for most people, ahead of saving for the future.
By Jamie Price