While there have been some positive improvements in the energy market, the level of trust in energy suppliers remains relatively low according to a new survey by energy regulator Ofgem.
The survey covered 3,400 participants around the country with the aim of assessing their experiences with, and knowledge of, the energy market in what has been a tumultuous period. Only 60% of these believe that their energy provider is dealing with them fairly, although this is a 6% improvement on the July 2023 figure.
More than a quarter of respondents also said they are having to spend less on essentials to meet their energy costs, which are still substantially higher than pre-crisis levels. Fewer respondents were getting behind on their bills, though, with this dropping to 9% from 12%. While switching provider can sometimes reduce energy costs, confusion over tariffs and a perceived difficulty in finding competitive deals seems to be putting people off.
The proportion of households saying they would switch provider dropped from 30% in July to 21% in the latest survey. Many said they also did not understand fixed tariffs and the associated early-exit fees they sometimes come with.
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