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Energy firms 'ripping off' loyal customers, probe finds

Customers who stay loyal to their energy supplier for years are being ripped off by energy firms who routinely charge them up to £234 more a year than those who switch, an investigation has found.

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Energy Secretary: Switch suppliers and save money

Energy Secretary Ed Davey told energy consumers to switch suppliers and save money. Credit: Danny Lawson/PA

Energy Secretary Ed Davey has reiterated his advice to energy consumers to "shop around for a better deal, switch suppliers and save".

Mr Davey was responding to an update from the Competition and Markets Authority into pricing in the energy sector which said loyal customers could save up to £234 by switching.

The CMA is looking at whether consumers get a fair deal from energy companies - and that’s exactly why we’re backing their investigation. We’ll be looking at their initial report in detail.

“The thrust of the report seems in tune with the action we are already taking to drive competition in the energy sector. Our reforms to the market have all been about greater choice, backing new firms challenging the Big 6 and putting pressure on energy companies to put their customers first.

“My message for consumers is the same as these early findings - don't stick with a supplier if you're not satisfied – now’s the time to shop around for a better deal, switch suppliers and save.”

– Energy Secretary Ed Davey

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