EU consumers not making full use of the savings opportunities of energy market liberalisation, study finds
A European Commission study on the functioning of retail electricity markets for EU consumers published today shows that EU consumers could save about €13 billion in total if they switched to the cheapest electricity tariff they could find. Mystery shoppers conducting the study have been able to find a less expensive tariff in more than six cases out of ten (62%). Individually, consumers could save about € 100 if they switched to the cheapest offer. But the study also shows that consumers are not making full use of the savings opportunities that market liberalisation has created, allowing them a choice of electricity suppliers. Consumer awareness is low: only one in three (32%) EU consumers have compared offers and almost half of them (47%) do not know how much electricity they consume at home. The Commission wants a series of actions that will facilitate consumer choice and empower EU consumers on the energy market, including easier price comparison, more effective complaint handling and better bills.