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16million* UK Consumers Ignoring Utility Savings

Press release   •   Jan 25, 2014 00:00 GMT

- One in four admit to never having switched utility suppliers in their lifetime
- Almost half of TV, home phone and broadband bundle users have never switched supplier, even though they’ve found a cheaper deal elsewhere
- ‘Hassle’ cited as the main reason for not switching

While almost half of the UK (46 per cent) will be reviewing their finances in January, only one in ten consumers (11 per cent) will be shopping around for the best deal from their current utility providers, according to research from Post Office HomePhone and Broadband.

Despite the opportunity to save money, over a quarter (26 per cent) state they have never switched utility providers in their lifetime. When considering TV, home phone and broadband bundle users, almost half (45 per cent) admit they have never switched - even though they’ve found a cheaper deal elsewhere.

The study, which was carried out amongst 2,000 working adults in the UK, found that nearly a third of consumers (30 per cent) think switching suppliers for services such as home phone and broadband, is just ‘too much hassle’.

Twenty-seven per cent admitted to not switching because they are concerned about being left disconnected and just over a quarter (26 per cent) believe they will be hit with hidden costs or additional set-up charges with a new provider.

Electricity providers are the most likely to see the highest level of switchovers, with over one in five consumers (22 per cent) stating they are moving this January. Nineteen per cent will change gas provider this month and one in seven (14 per cent) will alter their broadband provider.

Utility services that consumers are most likely to switch in January 2014

1

Electricity provider (22 per cent)

2

Gas provider (19 per cent)

3

Broadband provider (14 per cent)

4

Home contents insurance (13 per cent)

5

Home phone provider (11 per cent)

Hugh Stacey, Post Office HomePhone and Broadband, said: “It’s interesting to see that many consumers are still apprehensive about changing suppliers and fear that it is a complicated or time consuming process. This is a common misconception and, because of this view, people are ignoring potentially big savings for their household.

“At Post Office, we’re urging consumers to take the time this month to review their current home phone and broadband supplier to see if they are getting the very best deal for their needs.”

Post Office offers a range of home phone and broadband packages, enabling the customer to tailor a package to suit their specific needs. For more information, head to www.postoffice.co.uk/broadband-phone.

-ENDS-


For further information please contact:

Gabrielle O’Gara at Post Office Press Office

Tel: 0207 250 2534 / Email: Gabrielle.ogara@postoffice.co.uk

Victoria Heiden / Lucy Keogh / Ruth Bennett at Eulogy!

Tel: 020 3077 2000 / Email: victoria@eulogy.co.uk, lucy.keogh@eulogy.co.uk, ruth@eulogy.co.uk

Research was conducted by One Poll who questioned 2,000 UK working adults between 08.01.14 – 09.01.14.

*Calculations:

UK working adult population, as outlined in 2012 Census = 63,705,000

¼ of 63,705.000 = 15,926,250 = 16million

About Post Office HomePhone and Broadband packages:

Post Office offers HomePhone and Broadband packages, which include free evening and weekend calls to 0845 and 0870 numbers.

Post Office HomePhone:

- Line rental including weekend calls from just £12 a month

Post Office HomePhone and Broadband Essential

- £8.15 per month plus £12 line rental

- 10GB monthly usage

- Inclusive weekend calls to UK landlines, 0845 and 0870 numbers

Post Office HomePhone and Broadband Premium

- £12.80 per month plus £12 line rental

- Unlimited monthly downloads

- Inclusive weekend calls to UK landlines, 0845 and 0870 numbers

About Post Office:

Post Office, now independent of Royal Mail, is the largest retail network in the UK, with over 11,500 branches. It is also one of the fastest growing financial services companies and is developing its online and telephony services.

It provides around 170 different services and products spanning financial services including savings, insurance, loans, mortgages and credit cards. Post Office also offers Government services; telephony; foreign currency; travel insurance and mail services.

It serves around 18 million customers a week and a third of all small businesses. 99.7% of the total population live within three miles of a post office. For many rural communities the post office is the only retail outlet. Post offices remain highly valued and trusted and are the focal point for many communities. For more information, visit www.postoffice.co.uk.

About the Post Office

The Post Office (Post Office Limited) has an unrivalled national network of over 11,500 branches across the UK, more than all the high street banks combined, and sits at the heart of communities in Northern Ireland, Scotland, Wales and England. The Post Office has made a commitment to maintaining its network of branches at its current size and reach. It provides around 170 different products and services spanning financial services including savings, insurance, loans, mortgages and credit cards; Government services; telephony; foreign currency; travel insurance and mail services.

The Post Office serves over 17 million customers a week and a third of small businesses. Some 99.7% of the total population live within three miles of a post office and over 97% live with one mile of a post office. For many rural communities, the post office is the only retail outlet. Post Offices branches remain highly valued and trusted, and are the focal point of many communities. For more information, visit http://www.postoffice.co.uk/.

Please note the Press Office team can only deal with enquiries from the media.  Unfortunately they do not have access to customer information so can not help with customer enquiries.

If you have an enquiry regarding any Post Office product or service please visit postoffice.co.uk or call 0845Local call rates apply. Call costs may vary depending on your service provider. Calls may be monitored or recorded for training and compliance purposes. 611 2970.