Energy price comparison sites may now just show deals earning them commission
Posted by Sandra Hayes on 13 July 2016 at 2:35 pm
Thanks to a recent ruling of the Competition and Markets Authority (CMA) you are going to find it harder to find a cheaper fuel supplier using a price comparison website. Until the release of the report on 24th June 2016 all price comparison sites had to show all the deals available. This included all those that they couldn’t get any commission on (although these could be hard to find).
This new ruling means that they won’t have to anymore – the only deals they have to show on their sites will be from suppliers they are earning commission from. This ruling means that price comparison sites for energy suppliers can now be run on a similar basis to comparison sites for services such as insurance and broadband.
YouGen’s advice is that it’s still well worth shopping around. The report found that 70% of customers using the big six suppliers are paying more than they should. If you are one of these people you could be wasting up to £300 a year by not switching. Until recently I was one of the customers. I’ve just switched suppliers and expect to save over £200 on my energy bills on a 12 month contract. I’ll just need to set up a reminder to myself to look for a new deal when it ends.
Not all price comparison sites will compare the same deals and some may still show deals from the whole market. It’s worth noting too that energy regulator Ofgem accredits energy comparison sites. Their list of sites covered by their Confidence Code can be found here and these should be used in the first instance.
Photo: William Warby
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