Your Guide to the Big Six Energy Suppliers
Which Companies are The Big Six?
- British Gas
- EDF Energy
- E.ON UK
- Scottish Power
Problems With the Big Six
The big six have come in for a lot of criticism in recent years. Since the big six supply energy to most households in the UK, concerns have been raised over the competitiveness of the energy market. The big six dominate the industry to such a degree, that in the past there have been claims of price fixing. While claims of wrongdoing have not been upheld, some smaller energy suppliers have still raised issues – claiming that the big six have a strangle hold on the industry and act like a cartel. Because of the way in which energy companies operate and are structured, these companies buy and trade the energy between each other.
For consumers, what does it mean that six companies largely monopolise the energy market? Well, the main issue is that their dominance can result in uncompetitive tariffs and high energy bills for regular consumers. Our economy here in the UK is based on the principle of markets being competitive. Companies vie with one another for trade. The more companies that there are in a particular sector, the more competition there will be. The more competition there is, the more firms will be forced to offer customers better and better deals. More companies, and more competition, therefore, is good for the consumer.
What Can Be Done About It?
The best way to make sure that competition in the UK’s energy market is increased is to encourage consumers to seek out the best deals, and frequently change their energy supplier. Money Pug is here to help everyone to switch when necessary and to get the very best deals. The more people switch over to better deals, the harder the energy suppliers will have to work to win over customers. The big six won’t change unless there is a real risk to them of losing customers.
Unfortunately, even with all the information out there encouraging people to switch energy supplier, only around 4 in 10 households have done so. There are a range of misconceptions out there and people do not realise just how easy it is to do. Money Pug’s easy to use website and useful guides are designed to demystify the process, and make it even easier for everyone to switch and find the best deals.
Are There Alternatives to the Big Six?
YES! One of the most important things to understand is that there are a wide range of other, smaller energy companies out there that you can choose from. While they may dominate the market at the moment, you don’t need to go with one of the big six. Money Pug allows you to compare offers and deals not only from the big six companies but also from a wide range of other, smaller suppliers.
You may not have heard of some of the energy suppliers out there. But that does not necessarily mean that they cannot be trusted. Some consumers are reticent to go for a different supplier that is not one of the big six because they have not heard of the brand, and do not know whether or not they can trust them. Some are concerned that a smaller supplier could go out of business, or that its customer service will not be as good as a big six energy supplier.
However, small suppliers often have some great deals. They offer energy tariffs and plans that are often equal to, or even cheaper than those offered by the big six. They may also have other advantages, such as offering better green energy deals, for example, or have more ethical business practices. While you may still decide to go with one of the big six in the end, it is certainly not a good idea to dismiss smaller companies before determining exactly what they have to offer.
Is It Easy To Switch Away From the Big Six Energy Suppliers?
Compare through MoneyPug today! and SAVE Money