Brits could be missing up to £265 in savings by being 'Energy Ostriches'

Nearly four million British households have been identified as 'Energy Ostriches', burying their heads in the sand and missing out on significant savings, according to research by Uswitch.com. In contrast, over six million are 'Energy Owls', who stay informed about news, their tariff, and their meter to save money on their energy bills.

The remaining 64% of households - equating to 18 million - are categorised as 'Energy Otters'. These households attempt to keep abreast of bills, news and usage, but often get sidetracked and miss out on the best offers. Last week, Ofgem announced that October's energy price cap would be rising from £1,720 to £1,755 a year - underlining the importance of households securing lower rates with a fixed deal before their rates increase this winter.

Over half of Energy Owls (53%) are confident their energy bills are accurate, compared with only a fifth of Energy Ostriches (21%). Two fifths of Energy Owls believe their current energy deal is good value for money (40%), while only one in ten Energy Ostriches (11%) feel the same way.

The difference can also be seen in the proportion of each group with a working smart meter, which is a valuable tool for tracking a household's energy use. More than three quarters of Energy Owls (77%) have a working smart meter, while only three-fifths (62%) of Energy Ostriches have one.

Households wanting to monitor their energy consumption can view their smart meter data on their mobile and receive complimentary energy-saving advice by downloading the Uswitch app. Seven million households on standard variable tariffs should take action immediately to secure a fixed deal and benefit from reduced energy costs.

Several fixed deals currently available provide savings of approximately £265 when compared with the October price cap for the typical household. Should all seven million households on standard tariffs move to the most competitive fixed deal, they would collectively save £1.9 billion annually.

Uswitch.com is encouraging households to compare energy tariffs to discover potential savings on a fixed deal versus the forthcoming price cap. Ben Gallizzi, energy expert at Uswitch.com, comments: "Millions of households are reaping the benefits of keeping a beady eye on their energy usage and pouncing on a better deal when they see one.

"We're calling these wise households Energy Owls - and they're four times more likely than Energy Ostriches to say their energy deal is good value for money. Keeping an eye on your meter, your bills, and checking when your fixed deal ends takes a little effort, but the rewards can be massive.

"Take our quiz to see if you're an Energy Owl, Otter or Ostrich, and see what improvements you can make. The price cap is rising again on 1 October, so now is a great time to look at switching to a new energy tariff.

"There are a range of fixed deals currently available which could save the average household around £265 compared with the October price cap."