HOUSEHOLDS are being warned about "rip-off" bill-splitting firms, which could cost thousands of pounds more than paying energy giants directly.Tom Allingham, student bills expert at Save the Student, says: "We've long warned students against these rip-off bill-splitting companies, as although they might be more convenient, they often charge excessively high prices.
They are targeted at students and house sharers who are attracted by the certainty of paying the same amount each month. We checked prices based on a three-bedroom home in London from seven bill-splitting sites: Bunch, Epic Student Bills, Fused, Huddle, One Utility Bill, Split the Bills, and Student Bills Company.We added them up to create an average annual cost for our investigation.
Traditional energy tariffs are based on what households use, whereas those with "unlimited" deals could end up paying more - and there's no way to get a refund.Bill-splitting firms argue that they make it easier for customers to split costs, but experts warn that customers are being charged a premium for this convenience.
Gillian Cooper, from Citizens Advice, said: "Third party intermediaries in the energy industry - services like auto-switchers and bill-splitters - are unregulated.Prior to the election being called, the government had committed to a consultation on regulating these services.However, it’s not as difficult as you may first imagine.This can take out the stress of having to rely on one person to sort everything alone.