More than 22 UK households do not submit monthly electricity and gas meter readings and risk being overcharged, according to new research.
The research by the website Compare the Market claims 80% of British households do not submit readings and one in 10 do not know who is responsible for monitoring their monthly energy usage.
The analysis also found that young people are particularly disengaged, with one third (32%) of 18-24 year olds unable to name their provider.
And a similar number (30%) of young people do not know the location of their energy meter within their home.
Almost two fifths (40%) of all other age groups also admit to taking a backseat when it comes to addressing their energy costs.
But despite the lack of engagement one fifth (22%) of customers said that they do not think their energy company treats them fairly and almost one third (30%) have never been prompted to submit a reading by their supplier.
The research also found many households find their meter readings difficult to comprehend.
Over half (57%) of UK customers are not confident that they fully understand their energy meter, which may account for the lack of action taken by consumers. The majority (76%) of customers questioned have never queried an energy bill based on consumption calculations.
“It is disappointing to see that so many households are not encouraged to submit regular meter readings by their supplier,” said Compare the Market’s head of energy, Peter Earl.
“Keeping a close eye on whether your monthly bill and meter reading tally up, is one of the most effective ways for customers to ensure they are on the best tariff possible. It is particularly concerning that engagement is so low among the younger generations, who could easily be taken advantage of by firms who rely on inertia and a lack of engagement to make money,” added Earl.
“The energy industry does have a responsibility to its customers to make sure they are sufficiently informed on issues related to their billing and usage, even if the relentless price hikes of late indicate that consumers are better off taking matters into their own hands.
“Careful monitoring of both meter readings and energy bills is a useful tactic for those who feel they might need to switch to a more affordable tariff. So don’t wait for smart meters – start submitting readings as soon as possible.”