Renters are missing out on £41m of energy savings because of this one misconception

Getting the best price on your gas and electricity package is just one way homeowners can slash the cost of their overall household bills.

Related: How to make the switch to a cheap energy supplier and save money

But according to the research from auto-switching energy service Migrate renters are missing out on millions of pounds worth of potential energy savings.

Revealing why this is the case, the survey found that more than half (67 per cent) of renters that haven’t switched thought they were not able to.

Almost one in 10 (9 per cent) revealed that they were told by their landlord or letting agency that they aren’t allowed to switch to a new energy supplier, a misconception that means they miss out on average savings of £315 annually (or £41 million collectively).

Commenting on the findings, George Chalmers, CEO of auto-switching service Migrate said: ‘Our research has found a huge amount of misconceptions among renters when it comes their energy bills.

‘However, perhaps the most shocking was that nearly one in 10 tenants said that they had been specifically told by their landlord or letting agent that they were not allowed to switch – which is totally untrue.'

Continuing he added:

‘In reality, if your name is on the energy bill and you pay for your energy directly from a supplier, the likelihood is you have the right to switch your energy supplier and should be doing so regularly to ensure you’re not overpaying.’

Research published recently by energy regulator Ofgem (questioning a cross-section of 3,300 people) also revealed that 47 per cent of people had yet to switch energy supplier.

Related: Want lower energy bills? These simple energy-saving tips can make BIG household savings

Are you a tenant who has still hasn't made the switch to a different energy supplier?