Beat the credit crunch by switching energy suppliers

When you're one of the world's richest billionaires worth over £12 billion, the cost of heating your home may not be at the top of the list of household priorities. However research commissioned by ASDA has shown that Lakshmi Mittal could save a small fortune by switching the gas and electricity suppliers on his three palatial London properties.

With rising fuel costs, steel magnate Mittal is paying a substantial £5,000 a year more than this time last year with it now costing a staggering £37,587.02 to provide gas and electricity to his London addresses. But by switching supplier with ASDA, Mittal could save a whopping £11,000, enough to buy a gold encrusted Vertu mobile phone for himself or perhaps a Cartier Tank watch for his wife or a brand new ford fiesta for one of his staff to run errands in.

Statistics from ASDA have shown that even those living in more modest sized accommodation can save a sizeable amount by switching their supplier. 70% of customers who switched with ASDA saved an average of £70.12 and the highest saving was a staggering £2,407.62.

Gideon Ingham, ASDA Financial Services comments: "Most customers are paying well over the odds for their gas and electricity. By switching to a more competitive supplier they can often save hundreds of pounds. At ASDA we can guide customers through the whole process which is much more straight-forward than you would expect".

The combined value of Mittal's properties, which are a few hundred yards apart in Kensington Palace Gardens, also known as ‘Billionaires Row' is said to be an astonishing £440million. And the largest residence at 55,000 square feet is often referred to as ‘Taj Mittal' featuring ornate marble imported from the quarry mined to build the Taj Mahal. Other lavish touches include Turkish bath, ballroom, bejewelled swimming pool and oak-panelled picture gallery.

Customers interested in the service can log onto asdafinance.com/gas-and-electricity.html