£8.9bn wasted on energy bills each year by not switching provider

Failing to switch energy providers could be costing Britains as much as £8.9bn a year, according to the latest data from home setup service, Just Move In.

The average household is spending £1,289 a year on gas and electricity. However, Just Move In’s research shows that when switching supplier, the average saving is as high as £350 a year.

Despite this, just 5.2% of households have switched energy supplier over the last year, meaning 25.6m homes have stayed put. That’s 25.6m households missing out on a reduction of £350 a year on their energy bills, totalling a missed saving of £8,974,194,600 in one year alone.

In England, this 5.2% equates to almost £7.7bn a year in energy overpayments, falling to £826.8m in Scotland and £455.5m in Wales.

Regionally, this missed saving is at its highest in the South East, where 3.5m households could be saving £1.2bn a year on their energy bills.

In London, it equates to an overpayment of £1.1bn in annual energy bills, with the North West also seeing this sum exceed the £1bn mark.

The North East is the region home to the lowest potential saving, but even then, the 1.3m homes failing to switch could be saving as much as £390m a year!

Great Britain
Energy
Average Annual UK Energy Bill
Average Saving Through Switching Supplier
Total number of households
Percentage of households that switch
Number of households that switch
Number of households NOT switching
Total cost to those not switching
Gas and Electricity
£1,289
£350
27,047,000
5.2%
1,406,444
25,640,556
£8,974,194,600

 

Saving missed by not switching energy supplier by nation and region
Location
Number of households NOT switching
Average potential saving when switching
Total cost to those not switching
South East
3,500,964
£350
£1,225,337,400
London
3,164,424
£350
£1,107,548,400
North West
2,906,568
£350
£1,017,298,800
East
2,489,448
£350
£871,306,800
South West
2,338,716
£350
£818,550,600
West Mid
2,299,848
£350
£804,946,800
Y and H
2,237,280
£350
£783,048,000
East Mid
1,925,388
£350
£673,885,800
North East
1,113,900
£350
£389,865,000
England
21,976,536
£350
£7,691,787,600
Scotland
2,362,416
£350
£826,845,600
Wales
1,301,604
£350
£455,561,400
Great Britain
25,640,556
£350
£8,974,194,600

 

Sources
Number of households
Annual Domestic Energy Bills
Quarterly Domestic Energy Switching Statistics
Saving when switching energy

Properganda PR

National and local media coverage for property businesses. Journo quotes delivered in minutes.

You May Also Enjoy

small house bird box
Breaking News

UK First Time Buyers better off than many other global nations

Is it really that bad being a first-time buyer? UK better off than many other global nations when it comes to affordability The latest market analysis from Yopa, the full-service estate agents, reveals that first-time buyers (FTBs) in the UK may be paying 63% more to get a foot on the property ladder than they…
Read More
new build homes colchester essex
Breaking News

Building Safety Regulator Reform

The Government has announced reforms to the Building Safety Regulator, including leadership, process and investment. The changes are hoped to deliver 1.5 million homes. The reforms pave the way for creation of a single construction safety regulator, as recommended by the Grenfell Tower enquiry. David Smith, property litigation partner at London law firm Spector Constant…
Read More
Breaking News

New anti-money laundering rules now in effect: what landlords need to know

New anti-money laundering (AML) rules came into effect this month, marking a significant change for landlords and the lettings industry as a whole. The new rules mean financial sanctions checks are now required for all lettings, regardless of how much rent is charged. Here, Steve Bond, managing director of residential lettings for Beresfords, explains what…
Read More
Breaking News

What landlords need to know about the upcoming Renters Rights Bill

The government’s long-awaited Renters Rights Bill is one of the most significant overhauls of the private rental sector in decades. While it has not yet received royal assent, the legislation is expected to come into effect late this year, or early in 2026. With the bill moving closer to becoming law, Steven Bond, managing director…
Read More
Breaking News

Mortgage approvals bounce back in May

The latest figures show that: – Mortgage approvals on house purchases for May sat at 63,032 up 3.9% from 60,656 in April. The monthly increase seen in May marks the end of four months of previous decline, with approval levels having fallen each month since January of this year. Approvals are also 2.5% higher than…
Read More
Breaking News

Money and Credit – May 2025

Key points: Net borrowing of mortgage debt by individuals increased by £2.8 billion to £2.1 billion in May, following a large decrease in net borrowing of £13.8 billion to -£0.8 billion in April. Net mortgage approvals for house purchases increased by 2,400 to 63,000 in May. Approvals for remortgaging also increased by 6,200 to 41,500…
Read More